SEC has reportedly served Tesla using a subpoena after Elon Musk’s take-private tweet

The Securities in addition to also Exchange Commisison has served Tesla using a subpoena after CEO Elon Musk tweeted in which he was considering taking the company private in addition to also in which he had the necessary funding lined up, according to reports via The fresh York Times in addition to also some other outlets published Wednesday.

Earlier reports said the SEChad intensified scrutiny of the automaker after the controversial tweet. A subpoena would likely be one of the first steps in a formal inquiry.

Shares of Tesla were down 3 percent in afternoon trading, though they moved only a fraction of 1 percent following the Times article.

Representatives of Tesla in addition to also the SEC declined to comment to the Times.

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