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Tesla Confirms SEC Subpoenas And DOJ Inquiries

Tesla confirmed in its quarterly report that the SEC had subpoenaed the company.
Posted at 3:34 PM, Nov 03, 2018

Tesla confirmed on Friday that the Securities and Exchange Commission has subpoenaed the company, a sign that the SEC's investigation into the electric car company might be heating up.

The confirmation was deep in Tesla's quarterly report to the SEC. It said the commission sought information on "certain projections" Tesla had made about Model 3 production last year, along with CEO Elon Musk's comments about taking the company private.

In addition to the SEC subpoenas, Tesla's report says the Department of Justice is also seeking information on both matters. Tesla says it is cooperating fully.

The news comes a week after Musk and Tesla denied a Wall Street Journal report that the FBI was investigating the company for production issues related to the company's Model 3 sedans.