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The Securities and Exchange Commission is formally requesting information from electric automaker Tesla about its take-private plan and CEO Elon Musk's unverified claim that he has "funding secured," according to a tweet from Fox Business's Charlie Gasparino. 

Why it matters: Subpoenas signal that the SEC's ongoing probe has intensified, and traders reacted by sending Tesla's stock lower by more than 3%. A Tesla spokesman declined comment.

Go deeper: Elon Musk again tweeted misinformation

Report: SEC subpoenas Tesla over Musk's claims

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Tesla

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The Securities and Exchange Commission is formally requesting information from electric automaker Tesla about its take-private plan and CEO Elon Musk&#x27;s <a class="gtmContentClick" data-vars-link-text="unverified claim" data-vars-click-url="https://www.axios.com/behind-elon-musk-buyout-tweet-tesla-private--b9527889-5060-4b5c-9be9-7a303405c1ac.html" data-vars-content-id="9f20334c-1220-4c29-9a9b-077cf4ce028d" data-vars-headline="Report: SEC subpoenas Tesla over Musk&#x27;s claims" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/behind-elon-musk-buyout-tweet-tesla-private--b9527889-5060-4b5c-9be9-7a303405c1ac.html" target="_self">unverified claim</a> that he has &quot;funding secured,&quot; according to <a class="gtmContentClick" data-vars-link-text="a tweet" data-vars-click-url="https://twitter.com/CGasparino/status/1029740099339268096" data-vars-content-id="9f20334c-1220-4c29-9a9b-077cf4ce028d" data-vars-headline="Report: SEC subpoenas Tesla over Musk&#x27;s claims" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://twitter.com/CGasparino/status/1029740099339268096" target="_blank">a tweet</a> from Fox Business&#x27;s Charlie Gasparino. Why it matters: Subpoenas signal that the SEC&#x27;s ongoing probe has intensified, and traders reacted by sending Tesla&#x27;s stock lower by more than 3%. A Tesla spokesman declined comment.Go deeper: <a class="gtmContentClick" data-vars-link-text="Elon Musk again tweeted misinformation" data-vars-click-url="https://www.axios.com/elon-musk-again-tweeted-misinformation-1534270687-4a280a98-73c4-445a-9567-f0657bd27585.html" data-vars-content-id="9f20334c-1220-4c29-9a9b-077cf4ce028d" data-vars-headline="Report: SEC subpoenas Tesla over Musk&#x27;s claims" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/elon-musk-again-tweeted-misinformation-1534270687-4a280a98-73c4-445a-9567-f0657bd27585.html" target="_self">Elon Musk again tweeted misinformation</a>

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