Is Tesla under investigation from the SEC? *UPDATE
Probes Reporter Thinks It's On To Something With FOIA Requests
Let's call this one unsubstantiated at best. Probes Reporter is a site that tries to figure out what's going on behind the scenes by filing a number of Freedom of Information Act (FOIA) with the Security Exchange Commission (SEC). Based on the responses it gets, it guesses whether or not the SEC is investigating companies. Earlier today, Probes Reporter issued a Tweet that says: "Tesla Motors May Have an Undisclosed SEC Probe - Added to Watch List."
Probe Reporter says that it got a letter from the SEC in early October that cited the "law enforcement exemption" of the FOIA in order to deny PR access to the records it was asking for. PR says that this acknowledges "some sort of investigative activity." Probe Reporter also says that about two-thirds of these sorts of exemptions "are confirmed on appeal," so the company's history with this strategy indicates there is a real chance the electric automaker is indeed facing some sort of investigation. Again, we don't know anything for certain.
For now, Tesla hasn't made any official statement on the matter (we've asked, and will update this if we hear anything) and the stock market doesn't seem to care. TSLA was up 1.62 percent today, to $246.72, in part because analysts say this is just a rumor at the moment, according to ValueWalk.
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