Tesla (NASDAQ: TSL), disclosed Monday that the SEC is conducting new investigations into CEO Elon Musk’s tweets regarding taking Tesla private in 2018.
The automaker stated in its most recent 10-Q filing that it had received another subpoena from the SEC in June, ‘inquiring information about our governance processes regarding compliance with the SEC settlement’. Inquiries also sought information about model 3 production rates related to take-private pronouncements.
According to the filing, Tesla ( TSL) was cooperating with the investigation.
Investors were also informed by the EV manufacturer about legal proceedings related to its “toxic workplace culture”.
Diaz v. Tesla was a case that alleged discrimination at work based on race. The original award in the case was $15M. This amount was cut from $136M. The plaintiff refused to accept the reduced award and decided instead to challenge Tesla.
The trial is scheduled for March 2023. The California Department of Fair Employment and Housing also filed a civil lawsuit against Tesla for racial discrimination and hostile workplace claims. The hearing on Tesla’s motion to dismiss is scheduled for late August.
These proceedings are part of the latest lawsuit, which was filed on June 16 by two shareholders. It alleges a ‘breach in fiduciary duty and unjust enrichment’ and a violation of federal securities laws related to alleged race, gender discrimination, and sexual harassment.
The impairment charges incurred by the automaker due to its Bitcoin ( USD ) sales were also detailed. According to the filing, the company suffered impairment losses of $170M due to changes in the carrying value of its bitcoin and gains of $64M from certain bitcoin conversions into fiat currency.