The complaint said Mr. Musk “knew that he had never discussed a going-private transaction at $420 per share with any potential funding source.”The S.E.C. said that Mr. Musk had been in a persistent feud with investors who were betting that Tesla shares would fall. In those discussions, Mr. Musk said he was thinking about taking Tesla private, but regulators said nothing formal was agreed on. The company has been struggling to achieve the ambitious production targets that Mr. Musk had publicly outlined. He has made a series of unusual public comments or appearances, including an internet interview in which Mr. Musk appeared to smoke marijuana.

Source: New York Times September 27, 2018 20:25 UTC