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Tesla likely to face SEC investigation following Musk tweets amid debate of market manipulation

Securities and Exchange Commission Building

Elon Musk's lawyers are probably pouring over rule 14e-8 of the Securities Exchange Act of 1934 right about now. That regulation is the one the Tesla CEO may have violated when he sent the markets into a frenzy after tweeting Tuesday that he was thinking about taking the company private and had "funding secured." Whether it was an impulse tweet or not, it's likely the SEC has already opened an investigation and is looking for documentation to back up Musk's comments, former SEC lawyers say.

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Securities and Exchange Commission Building

Tesla likely to face SEC investigation following Musk tweets amid debate of market manipulation

Elon Musk's lawyers are probably pouring over rule 14e-8 of the Securities Exchange Act of 1934 right about now. That regulation is the one the Tesla CEO may have violated when he sent the markets into a frenzy after tweeting Tuesday that he was thinking about taking the company private and had "funding secured." Whether it was an impulse tweet or not, it's likely the SEC has already opened an investigation and is looking for documentation to back up Musk's comments, former SEC lawyers say.