by Rachel Lynn Aldrich
Posted 9/28/18, 11:34 am
Tesla stocks slid on Friday after government securities regulators asked on Thursday for the removal of Elon Musk as CEO of the electric car company. The Securities and Exchange Commission asked the U.S. District Court in Manhattan to bar Musk from serving as an officer or director of a public company. The complaint says that Musk’s claim on Twitter in August that funding was secured for Tesla Inc. to go private at $420 a share was false and amounted to securities fraud. Musk and the company’s board later said they decided not to go private after all.