Tesla CEO Elon Musk has been sued by the Securities and Exchange Commission for fraud, according to court documents filed Thursday. Tesla was not named as a defendant in the complaint, but could be at any time.
The SEC complaint alleges that Musk issued “false and misleading” statements and failed to properly notify regulators of material company events. The SEC held a press conference Thursday evening regarding the complaint.
Among other remedies, the SEC is seeking to bar Musk from serving as an officer or director of a publicly traded company if found guilty.
