By Tim Higgins The Wall Street Journal Fri., Sept. 28, 2018 The legal threat from securities regulators to ban Elon Musk from Tesla Inc. raises the specter of a once-unfathomable exit that would potentially have dire consequences for the electric-car company. That threat was seen in the trading of Tesla’s shares, which fell 12% to $269.52 in premarket trading Friday. Few companies and their leaders are as indivisible as Mr. Musk and the 15-year-old company he helped build into a powerful player in the automotive industry. He isn’t only Tesla’s chief executive, chairman and largest shareholder but also its chief engineer, salesman, marketer and, possibly to his detriment, a Twitter user. The Securities and Exchange Commission is seeking to bar Mr. Musk from serving as an officer or director in any publicly traded company, accusing him of misleading shareholders about a corporate buyout in his Aug. 7 tweets announcing that he had secured funding to take the electric-car maker private at $420 a share. The complaint filed by the SEC came after a last-minute decision by Mr. Musk and his lawyers to fight the case rather than settle the charges. Article Continued Below It is far from certain whether the… Read full this story
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