ISSUER DIRECT'S BLOG

Tesla’s Slow Response to the SEC

Posted by Angie Goertz on Nov 30, 2016 9:17:29 AM

 


While Tesla’s cars can accelerate from zero to 60 miles per hour in mere seconds, the company’s communication with the Securities and Exchange Commission over its accounting took months. 

According to a Market Watch report, after Tesla filed a joint proxy statement and prospectus announcing its proposed acquisition of Solar City Corp on Aug. 31, the SEC reached out regarding the company’s accounting. Several letters between the SEC and Tesla’s lawyers overseeing the acquisition, five amendments to the original registration filing and at least one conference call followed. As the report cleverly states, the company got the memos, but not the message.

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Topics: Compliance, SEC, Tesla

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