The founder and CEO of SpaceX, Ilon Musk, discusses the successful launch of the Falcon Heavy rocket on February 6, 2018. On September 27, the US Securities and Exchange Commission sued Musk on charges of fraud.
The US Securities Commission is suing Ilona Musk on fraud charges. The reason was Mask’s statements made on August 7, where he hinted at the possibility of buying Tesla’s shares privately. After that, the shares went up by 11%, because of what others had to acquire them at inflated prices. The bottom line is that US law prohibits such companies to make false statements that can adversely affect investors. The commission points out that Musk explicitly promulgated the terms of the transaction, including the price, with any source of funding. SpaceX, a space company founded in 2002, is not involved in the lawsuit. Ilon Mask commented: “This unwarranted action disappointed me. I have always acted in the interests of truth, transparency and investors. For me, there is nothing more important than integrity, and the facts will show that there was no compromise on my part. ”