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SEC pressing Tesla directors for details on communications with Musk: Wall Street Journal

August 16, 2018 at 05:12 pm EDT

(Reuters) - Federal regulators are pressing Tesla Inc directors for details on how much information Chief Executive Elon Musk shared with them before he tweeted last week about a potential deal to take the company private, the Wall Street Journal reported on Thursday, citing a person familiar with the matter.

Tesla declined to comment.

Musk stunned investors and sent Tesla's shares soaring 11 percent on Aug. 7 when he tweeted that he was considering taking Tesla private at $420 per share and that he had secured funding for the potential deal.

Fox Business Network reported on Wednesday, citing sources, that the U.S. Securities and Exchange Commision had sent subpoenas to Tesla regarding Musk's plan to take the company private and his statement that funding was "secured".

(Reporting by Diptendu Lahiri in Bengaluru; Editing by Maju Samuel)

Elon Musk

Mr. Elon R. Musk is a Chief Executive Officer at The Boring Co., a Technoking of Tesla at Tesla, Inc., a Chief Executive Officer & Director at Space Exploration Technologies Corp., a Chief Executive & Technology Officer at Spacex SA and a Co-Chairman at OpenAir, Inc. He is on the Board of Directors at Tesla, Inc., Space Exploration Technologies Corp., Endeavor Group Holdings, Inc. and Musk Foundation. Mr. Musk was previously employed as a Trustee by California Institute of Technology, a Chairman by SolarCity Corp., a Chairman & Chief Executive Officer by PayPal, Inc., a Founder by Zip2 Corp., a Co-Founder by Neuralink Corp., a Co-Founder by OpenAI, Inc., a Non-Executive Director by Surrey Satellite Technology Ltd., and a Trustee by X PRIZE Foundation. He also served on the board at Everdream Corp. He received his undergraduate degree from the University of Pennsylvania and an undergraduate degree from The Wharton School of the University of Pennsylvania.

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Space Exploration Technologies Corp. Space Exploration Technologies Corp. Aerospace & DefenseElectronic Technology Space Exploration Technologies Corp. designs, manufactures and launches rockets and spacecrafts. It develops the partially reusable launch vehicles Falcon 1 and Falcon 9. The company was founded by Elon Reeve Musk in 2002 and is headquartered in Hawthorne, CA.	Founder