US SEC investigates Tesla for possible securities law breach


  • TECH
  • Tuesday, 12 Jul 2016

A Tesla logo hangs on a building outside of a Tesla dealership in New York, U.S., April 29, 2016. REUTERS/Lucas Jackson/File Photo - RTSGU3X

DETROIT: The US Securities and Exchange Commission is investigating whether Tesla Motors Inc waited too long to disclose a fatal crash in May that called into question the safety of a system in the car that takes control of steering and braking, the Wall Street Journal reported, citing an unnamed source.

Tesla said in a statement on Monday afternoon that it "has not received any communication from the SEC regarding this issue." The SEC declined to comment.

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