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  • Los Angeles Times

    Tesla stock drops almost 14 percent as SEC tries to force Elon Musk out of company leadership

    by Samantha Masunaga, Los Angeles Times Sep 28, 2018 3 minutes

    Tesla Inc. stock closed sharply lower Friday as investors worried about a Securities and Exchange Commission lawsuit that seeks to bar Elon Musk from continuing to lead the electric-car maker.

    Shares of Tesla closed at $264.77, down 13.9 percent Friday afternoon.

    The SEC filed its complaint against Musk after markets closed Thursday, alleging that the chairman and chief executive committed securities fraud by issuing a series of "false and misleading tweets about a potential transaction to take Tesla private."

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