The Tesla CEO made suspicious comments to Wall Street analysts during a conference meeting on Jan. 27.
April 12, 2021
2 minutes of reading
The billionaire businessman made calls with banking analysts to discuss Tesla’s fourth-quarter earnings when he allegedly misled them about the company’s car manufacturing operations. According to the source, Musk said Tesla will produce new versions of the S large sedan and large SUV X, adding that the high performance “Plaid” version of the electric S will be available at February.
However, according to delivery and production figures released last week, in fact, Tesla didn’t produce a new version of either model between January and March. Instead , the company has produced 180,000 vehicles of other models, namely 3 compact sedans and Y mini SUV.
Experts told the AP that the disparity could attract their attention Seconds, which has history with Musk.
“I think he might have a little bit of trouble with the SEC,” said Anthony Sabino, a lawyer and professor of law at the University of St. Petersburg. John’s, says. “These are fairly direct statements. They are quite clear. “
John C. Coffee Jr., a Columbia University professor and an expert in securities law and corporate governance, telling the AP that Musk’s comment is considered a factual statement, which could warrant an investigation. However, Tesla could argue that Musk was simply making predictions during the call, Coffee added.
Even so, Musk’s comments didn’t seem to affect Tesla’s stock much at the time, the AP noted. The day after the call, the company’s share price fell 3%.
Musk ran into legal trouble in 2018, after he mentioned the likelihood of a consolidation of Tesla employees in a tweet. Last month, the SEC ordered him delete post and ask Tesla to return a union company they fired. Although he did not openly resolve the verdict, but business The tycoon also appeared to dip his toes in the dangerous waters after suggesting that Tesla might be bigger than Apple in “a few months”.