The US Securities and Exchange Commission has opened an investigation into Tesla over a whistleblower complaint that the company failed to notify its shareholder and the public of fire risks from defects in its solar panel system, according to a letter seen by Reuters.
Reuters reported that the agency began the investigation after a Freedom of Information Act request by Steven Henkes, a former Tesla field quality manager, who filed a whistleblower complaint over fire risks in 2019. Musk hinted last week that the company was expecting whistleblower revelations to emerge, tweeting: "Blow the whistle on Tesla!" and including a link to a branded "Cyberwhistle" for sale on the company's website. Tesla investors are looking the other way on Elon Musk 'red flags' "We have confirmed with division of enforcement staff that the investigation from which you...
To continue reading this article...
Join Investment Week for free
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes