Senator Warren reiterates concerns to SEC over Tesla board

In a letter to Securities and Exchange Commission Chair Gary Gensler, Senator Elizabeth Warren said, “I am writing to provide additional information related to my July 17, 2023 request for an investigation of Tesla’s Board of Directors (Board) and its Chief Executive Officer, Elon Musk. In that request, I raised concerns about the Board’s failure to address possible misappropriation of Tesla resources and conflicts of interest arising from Mr. Musk’s dual role at Tesla and X – renamed from Twitter. I asked the Securities and Exchange Commission to investigate possible violations of U.S. securities laws, including Nasdaq listing rules and SEC Rule 10b-5.3. New evidence has emerged in recent months that deepen my concerns that Tesla’s Board lacks independence from Mr. Musk, who uses his control over the Board for his personal benefits, rather than in the best interest of Tesla’s shareholders. This is important information for SEC’s consideration.”