(Washington)

Some very interesting news about Tesla emerged yesterday. While it was already known that the SEC had subpoenaed Tesla over Elon Musk’s recent tweet about taking the company private, it emerged yesterday that the company was already the subject of an SEC investigation into whether it had misled investors. In particular, the SEC is probing whether Tesla misled the market with its Model 3 production forecasts. The actual production of vehicles last year was woefully short of the company’s forecasts.

FINSUM: Musk’s actual delivery of vehicles was just 10% or so of his initial forecast, which is likely what sparked the investigation. However, this is apparently a very difficult case for the SEC to prove, so it seems unlikely to amount to much.