Tesla wins dismissal of shareholder lawsuit over Model 3 production

Elon Musk

Tesla shares sank 3 percent in early trading Monday, following CEO Elon Musk's announcement over the weekend that he is abandoning his controversial plan to take the company private.

In a long report about the Tesla board's deliberations over taking the company private, the Journal revealed that investment advisors from Goldman Sachs and Silver Lake had lined up $30 billion of financing for the privatization deal.

"I do not think the SEC wants to look irrelevant and they may look that way if they do nothing", Columbia Law School professor John Coffee told FOX Business on Monday.

Tesla shares fell just over...

In this week's Counting the Cost, Al Jazeera asks Arash Massoudi, the Financial Times editor who broke the story of Saudi Arabia's stake in Tesla, what may have been behind Musk's tweets and earlier hints that his company was poised to organise one of the biggest leveraged buy-outs in history.

"This is simply something that you don't lie about, this is not the way it's done", he said. Cathie Wood, chief investment officerof ARK Investment Management, published an open letter to Musk and Tesla's board Wednesday in which she stated that Tesla should remain a public company.

US, Mexican negotiators set for more NAFTA talks
In Washington , Guajardo said Wednesday that he hoped to have a solution in "the next couple of hours, or couple of days". Long skeptical of foreign companies entering the Mexican oil industry, Lopez Obrador opposed Pena Nieto's energy reform.


However, even a formal SEC investigation does not necessarily indicate a case will follow.

Now, Musk and his team are working to meet them under even more scrutiny from regulators and from shareholders, and with more competition - the Saudi Public Investment Fund recently made what is likely a billion-dollar deal with Lucid Motors, another electric auto company vying for the same milestones and clientele as Tesla.

Elon Musk's stunning tweet that he wanted to take Tesla Inc. private and had funding secured was a classic Musk moonshot - given credibility only by the sense that if anyone could possibly pull such a brazen feat, he was the guy.

"We are hopeful that ... the past 17 days will lead the Board down the path to bringing on a more operational CEO or at a minimum a COO", Cowen and Co analysts said in a note to clients.

Musk also indicated he was unaware how challenging the process would be and did not want to distract from the goal of ramping up production of the Model 3 sedan.

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