US Senator Elizabeth Warren has sent a letter encouraging the Securities and Exchange Commission (SEC) to investigate Tesla and its Board of Directors. The official’s letter cited possible “conflicts of interest, misappropriation of corporate assets, and other negative impacts to Tesla shareholders” related to Elon Musk’s acquisition of social media platform Twitter.
Warren’s nine-page letter, which was sent to SEC Chair Gary Gensler on Monday, mentioned the Tesla board’s “apparent lack of independence” from the CEO. It also cited “inaction and incomplete disclosures,” as well as “questions about possible violations of securities laws and exchange rules which fall under SEC’s jurisdiction.”
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