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On the Record

The Daily Record's law news blog

Why Musk aimed high on Tesla’s stock price

On any other day, the Securities and Exchange Commission seeking to remove Elon Musk as chairman and CEO as Tesla would dominate the headlines. But Thursday, of course, was no ordinary news day.

Still, we’d be remiss if we did not note this detail from the SEC’s complaint. The agency alleges “Musk falsely claimed in an Aug. 7 statement on Twitter that funding had been secured for Tesla Inc. to go private at $420 per share, a substantial premium over the stock price at the time,” the Associated Press reported.

And how Musk arrive at $420?

If that’s not love, I don’t know what is.

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