The US Securities and Exchange Commission has brought a lawsuit against Elon Musk for alleged securities fraud, Bloomberg reported on Thursday.
The lawsuit alleges the Tesla founder made false or misleading statements about his claim to take the company private for $420 a share.
Few weeks after August 7th that Musk made the statement, his company announced it was not going private.
The SpaceX maker said that "funding for the deal had in fact not been secured.
Musk also added in the statement that "discussions stalled in their early stages."
