Musk Isn't Throwing Stones, But Tesla Under DOJ And SEC Investigation Over 'Glass House' Project
Portfolio Pulse from AJ Fabino
Tesla Inc (NASDAQ:TSLA) is under investigation by the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) over a secretive initiative known as 'Project 42'. The investigations focus on the potential misuse of company funds for a glass house for CEO Elon Musk in Austin, Texas. The status of the project and whether the specialized glass, costing millions of dollars, was ever delivered is unknown. The DOJ and SEC investigations are in their preliminary stages, and no formal allegations have been sent.
August 30, 2023 | 9:16 pm
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Tesla is under investigation by the DOJ and SEC over potential misuse of company funds for a project involving a glass house for CEO Elon Musk. The investigations are in their preliminary stages, and no formal allegations have been sent.
The investigations by the DOJ and SEC could potentially lead to legal and regulatory issues for Tesla, which could negatively impact the company's stock price in the short term. However, as the investigations are still in their preliminary stages and no formal allegations have been sent, the impact is uncertain.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100