SEC alleges Tesla’s Elon Musk lied to investors and seeks his removal as CEO -- The Washington Post

Job unsecured... Also see Tesla’s Board Backs Musk After SEC Sues, Seeks His Ouster (Bloomberg)

"The Securities and Exchange Commission sued Tesla chief Elon Musk on Thursday and is seeking to ban him from corporate leadership, saying he lied to investors when he claimed he had secured the funding to take the automaker private.

The legal action could prove devastating for Musk, a brash icon of tech entrepreneuralism who made Tesla into one of America’s most valuable car companies. It could also threaten a financial downfall for Tesla, Musk’s rocket firm SpaceX and his other business interests in artificial intelligence and underground trains."

SEC alleges Tesla’s Elon Musk lied to investors and seeks his removal as CEO -- The Washington Post