Elon Musk’s claims of ‘broken’ promises denied by the SEC
The Security and Exchange Commission (SEC) has responded to Tesla CEO Elon Musk’s claims that the agency has subjected him and his electric car company to “endless, unfounded investigations,” first reported by the Wall Street Journal. In a letter to Judge Alison Nathan, the SEC refutes Musk’s allegations that it’s ignoring its commitment to distribute $40 million in fine money to Tesla shareholders, which Musk and Tesla had paid as part of a 2018 settlement.
“Given the complexity of the distribution, it has taken time to develop the plan of allocation,” SEC official Steve Buchholz writes in the letter. “That process is nearing completion and, barring any...