SEC charges Tesla CEO Elon Musk with fraud

SEC charges Tesla CEO Elon Musk with fraud

By Sara Salinas, CNBC

Tesla CEO Elon Musk has been sued by the Securities and Exchange Commission for fraud, according to court documents filed Thursday. Sources close to the company told CNBC the company was also expecting to be sued, though Tesla was not named as a defendant in the complaint.

Shares of the automaker fell more than 13 percent in extended trading Thursday. The stock is roughly 30 percent below its 52-week high of $387.46. (Get the full story at CNBC)

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