Defendant Name: Tesla, Inc.

Defendant Type: Public Company
SIC Code: 9999
CUSIP: 88160R10

Initial Case Details

Legal Case Name SEC v. Tesla, Inc.
First Document Date 29-Sep-2018
Initial Filing Format Civil Proceeding
Case Number 18-cv-08947
Allegation Type Issuer Reporting and Disclosure
Federal District Court New York, Southern District of New York

Violations Alleged

Exchange Act
Rule 13a-15


First Resolution Date 29-Sep-2018
Headline Total Penalty and Disgorgement

See Related Documents

Related Documents:

2018-226 29-Sep-2018 Press Release--Civil Action
Elon Musk Settles SEC Fraud Charges; Tesla Charged With and Resolves Securities Law Charge
The Securities and Exchange Commission announced today that Elon Musk, CEO and Chairman of Silicon Valley-based Tesla Inc., has agreed to settle the securities fraud charge brought by the SEC against him last week. The SEC also today charged Tesla with failing to have required disclosure controls and procedures relating to Musk's tweets, a charge that Tesla has agreed to settle. The settlements, which are subject to court approval, will result in comprehensive corporate governance and other reforms at Tesla--including Musk's removal as Chairman of the Tesla board--and the payment by Musk and Tesla of financial penalties.
comp-pr2018-226 29-Sep-2018 Complaint
The Commission stated that: "This case involves the failure of Tesla, Inc. ("Tesla") to implement disclosure controls or procedures to assess whether information disseminated by its Chief Executive Officer, Elon Musk, via his Twitter account was required to be disclosed in reports Tesla files pursuant to the Securities Exchange Act of 1934 ("Exchange Act") within the time periods specified in the Commission's rules and forms."
court_doc14_18-cv-08947 16-Oct-2018 Court Docket Document
Final Judgment as to Defendant Tesla, Inc.
The Court stated: "The Securities and Exchange Commission having filed a Complaint and Defendant Tesla, Inc. having entered a general appearance; consented to the Court's jurisdiction over Defendant in this matter only and the subject matter of this action; consented to entry of this Final Judgment without admitting nor denying the allegations of the Complaint (except as to jurisdiction and except as otherwise provided herein in paragraph III); waived findings of fact and conclusions of law; waived any right to appeal from this Final Judgment."

Related Actions:

SEC v. Elon Musk