Moneycontrol PRO
Loans
Loans
HomeNewsTechnologyU.S. SEC probes Elon Musk's role in Tesla self-driving claims: Report

U.S. SEC probes Elon Musk's role in Tesla self-driving claims: Report

SEC officials are considering whether Musk may have inappropriately made forward-looking statements, the report said, without specifying which specific statements or activities by Musk attracted the regulator's attention.

January 28, 2023 / 08:41 IST

The U.S. securities regulator is investigating Elon Musk's role in shaping EV maker Tesla's self-driving claims, Bloomberg News reported on Friday, citing a person with knowledge of the matter.

The review is part of an ongoing Securities and Exchange Commission (SEC) probe of the company's statements about its Autopilot driver-assistance system, the report added.

SEC officials are considering whether Musk may have inappropriately made forward-looking statements, the report said, without specifying which specific statements or activities by Musk attracted the regulator's attention.

Tesla Chief Executive Musk did not immediately respond to a Reuters request for comment, while the SEC declined to comment.

Separately, the acting head of the National Highway Traffic Safety Administration (NHTSA) on Jan. 9 said the regulatory agency is "working really fast" on the Tesla Autopilot investigation it opened in August 2021.

Musk is also under trial for allegedly misleading investors with his 2018 tweet saying "funding secured" for taking Tesla private.

Invite your friends and family to sign up for MC Tech 3, our daily newsletter that breaks down the biggest tech and startup stories of the day

Reuters
first published: Jan 28, 2023 08:41 am

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

  • On Saturdays

    Find the best of Al News in one place, specially curated for you every weekend.

  • Daily-Weekdays

    Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347