Tesla’s shares dropped 12% after charges Elon musk for fraud

© AP Photo / Ringo H. W. Chiu Elon Musk, CEO of Space X and Tesla Motors, archival photoTesla’s shares dropped 12% after charges Elon musk for fraud© AP Photo / Ringo H. W. Chiu

Paper American lose 12% of the cost after the Commission on securities and exchange Commission (SEC) sued the founder of Tesla Elon musk fraud charges for his statements to make the company public.

As at 16.50 MSK, the share price of Tesla fell by 12.1% to 270,3 USD.

According to information from the lawsuit that the SEC filed in U.S. district court in new York, this case involves a series of false and misleading statements made by Musk as to make the Tesla, public company, private. According to CNBC, the entrepreneur has called the charges unfounded.

Musk in August, said on Twitter that provided funding for the purchase of Tesla stock in free float at a price of $ 420 apiece, but after the meetings with investors announced the abandonment of these intentions. The businessman noted that the decision to maintain the current status of the company expressed most of its investors, of which there is no possibility of further investment. Another reason in favor of his choice of Mask called distractions too much time and resources the process of turning the company private and nonpublic.

Earlier in September, the Agency Bloomberg with reference to sources reported that the U.S. Department of justice already maintains a similar criminal investigation.

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