The US Securities and Exchange Commission filed a lawsuit against Tesla CEO Elon Musk in a Manhattan federal court on Thursday. It alleges that Musk's tweets in August about having "funding secured" for a potential bid to take the company private constitute fraud for being "false and misleading statements." What's more, the lawsuit seeks to ban Musk from serving as an officer of any public company. The Tesla board issued a statement in support of

Musk, while the CEO said "Integrity is the most important value in my life and the facts will show I never compromised this in any way."

By: DocMemory
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