Mexican Media Brands
Report: SEC Probing Tesla for Possible Breach in Securities Rules
Tesla Motors Inc. may have violated U.S. securities laws by failing to tell investors that one of its cars was involved in a fatal crash while driving in autonomous mode, a source tells The Wall Street Journal.
#economics
Share
Tesla Motors Inc. may have violated U.S. securities laws by failing to tell investors that one of its cars was involved in a fatal crash while driving in autonomous mode, a source tells The Wall Street Journal.
The source says the Securities and Exchange Commission has launched a preliminary investigation to determine whether Tesla should have divulged the crash ahead of a plan to sell $2 billion in stock in May.
The fatality occurred on May 7 in Florida. Tesla promptly reported the crash to the National Highway Traffic Safety Administration. But it didn’t include the incident in a securities filing on May 18 about the stock sale.
Tesla says it did alert the SEC, but not until a few days after the stock sale when it was able to determine that the company’s so-called Autopilot self-driving feature was engaged at the time of the crash. Tesla publicly revealed the crash on June 30.
Securities experts tell the Journal there is no clearly defined standard to determine whether the May 7 crash was significant enough to warrant disclosure.
RELATED CONTENT
-
Mustang Changes for 2018
On Tuesday Ford unveiled—using the social media channels of actor Dwayne Johnson (this has got to unnerve some of the auto buff book editors)—the 2018 Mustang, which has undergone some modifications: under the hood (the 3.7-liter V6 is giving way to a 2.3-liter EcoBoost four, and a 10-speed automatic is available), on the dash (a 12-inch, all-digital LCD screen is available for the dashboard), at the tires (12 wheel choices), on the chassis (MagneRide damper technology is being offered with the Mustang Performance Package), and on the exterior (three new paint colors). And while on the subject of the exterior, there are some notable changes—a lower, remodeled hood, repositioned hood vents, new upper and lower front grilles, LED front lights, revised LED taillamps, new rear bumper and fascia.
-
Jeeps Modified for Moab
On Easter morning in Moab, Utah, when the population of that exceedingly-hard-to-get-to town in one of the most beautiful settings on Earth has more than doubled, some people won’t be hunting for Easter eggs, but will be trying to get a good look at one of the vehicles six that Jeep has prepared for real-life, fast-feedback from the assembled at the annual Easter Jeep Safari.
-
Multiple Choices for Light, High-Performance Chassis
How carbon fiber is utilized is as different as the vehicles on which it is used. From full carbon tubs to partial panels to welded steel tube sandwich structures, the only limitation is imagination.
