The U.S. Securities and Exchange Commission has sent subpoenas to Tesla Inc regarding its privatization plans and Chief Executive Officer Elon Musk’s statement “funding secured”, Fox News tweeted on Wednesday, citing sources.
The electric car maker’s shares fell 4 percent to $333.33.
Musk said on Twitter early last week he was considering taking Tesla private at $420 per share.
Tesla declined to comment, while the SEC was not immediately available for comment.
Reporting by Sonam Rai in Bengaluru; Editing by Anil D’Silva