Tesla Falls After Report FBI Looking If It Misstated Production

(Bloomberg) -- Federal Bureau of Investigation agents are examining if Tesla misstated information about production of its Model 3 sedans and misled investors about co.’s business going back to early 2017, Wall Street Journal reports, citing unidentified people familiar with the matter.

  • Tesla shares gave up most of their earlier gains after the news, trading up 0.6% at 2:17pm in New York
  • Action in the criminal investigation is headed by the U.S. attorney’s office in San Francisco, has intensified in recent weeks
  • Tesla didn’t immediately respond to a request for comment to WSJ; Justice Department and SEC declined to comment
  • Bloomberg reported Oct. 16 a U.S. judge had approved Elon Musk’s $40m settlement with the SEC on his tweets about a plan to take the company private

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