Tesla. Musk banks on the SEC while playing dogecoin

Tesla has a problem with some solar panels under investigation in the U.S, but setbacks do not keep Elon Musk of your roadmap.

The head of Tesla continues its plan to sell shares to alleviate the payment of taxes that it must face after exercising its options on the company, and continues to argue in Twitter with their games related to cryptocurrencies.

Tesla must confront the regulator of the US markets, the SEC, after what Reuters confirm the opening of an investigation by the US CNMV.

The reason for this investigation is a complaint from a former employee who alleges that the company did not adequately notify its shareholders or the public about the fire risks associated with defects in its solar panel systems.

The actions of Tesla they have fallen 7.5 percent in the last five days to $ 966, and a total of 4.65 percent in the last month.


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Tesla solar panels

According to the information published by Reuters, the United States Securities Commission disclosed the investigation to Tesla in response to a request for information made by Steven Henkes.

Henkes is a former field quality manager from Tesla that he filed a complaint about solar systems in 2019, and that he was now demanding information on the status of it.

According to Henkes’ complaint, Tesla failed to notify customers of the fact that some faulty electrical connectors could cause fires, exposing them to personal and property damage.

Yes OK open research around Tesla and its solar panels It does not imply that the SEC is going to agree with the former employee, it does become a shadow that accompanies a company that has already felt regulatory pressure for its driving tests with autonomous cars.

The curious thing about the case, however, is that the biggest legal problem for Tesla may come from the process of acquiring the manufacturer of these solar panels, SolarCity.

Tesla acquired SolarCity in 2016 through an operation valued at 2.6 billion dollars in which SolarCity inverters they received 0.11 shares of Tesla for each of their shares.

The electric vehicle manufacturer described the purchase of SolarCity as an agreement that led to the creation of “the only vertically integrated sustainable energy company in the world.”

Instead, a group of Tesla shareholders who have filed a class action lawsuit believe that the operation was done to save a financially distressed company of which Musk owned 22 percent, and that his cousin, Lyndon Rive, had founded.

JP Morgan also claims

And Musk Whether or not forcing Tesla’s board of directors to save his cousin’s company is in the hands of the judge, who will not make a decision until mid-2022.

What is undoubted, according to the sources consulted, is that the maneuver marries a businessman known for playing with the market and his companies to his liking.

So much so, that JP Morgan has joined Musk’s plaintiff list, demanding up to 162 million dollars who claims to have lost because of a tweet from the president.

The complaint, however, does not appear to have thrown Musk down much, who on Tuesday again provoked on social media and the world of cryptocurrencies by ensuring that Tesla will allow some merchandising products to be purchased with the dogecoin currency, “and they will see how it goes “.

The game of cryptocurrencies and stocks

Immediately after the tweet from Elon Musk, the value of dogecoin shot up from $ 0.15 to $ 0.21 for each digital currency with the face of the now famous Japanese dog, in a 25 percent rise that has once again been caused by the express intervention of the founder of Tesla.

It remains to be seen if the rise of the dogecoin continues in time, or if it suffers a new crash like the one that took place after its inexplicable rise this year.

What is certain is that Musk continues to push his agenda at will, regardless of the complications that come his way, or Tesla’s.

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Tesla. Musk banks on the SEC while playing dogecoin

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