That's according to a new wide-ranging interview with Recode's Kara Swisher, in which the Tesla CEO admitted he went "a little bonkers" this summer working 120 hours a week while trying to produce 5,000 new Model 3 vehicles every week.
Tesla's Model 3 production has been the focus of the company much of the year, and its paid off with profits. He also argues that a fluctuating stock price is also a distraction within the company.
"It is possible for another SEC enforcement action down the road if it turns out that the projections were purposefully or recklessly made without a basis", Dublow, a former branch chief in the SEC's enforcement division, said.
It's the first time Tesla has formally disclosed the SEC subpoena in a regulatory filing, but there have been widespread news reports about its investigation into production forecasts.
Tesla finally met that target in June of this year. Musk and Tesla agreed to pay a combined $40 million without acknowledging or denying wrongdoing.
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District Judge Eleanor Ross is a "minor change" to the current system, said Candice Broce, a spokeswoman for Kemp, in a statement. Shortly after her speech, Winfrey posted videos on Instagram of herself going door to door canvassing for Abrams.
Musk was discussing the difficulty of creating a successful auto company and how Tesla, Ford, General Motors, and Chrysler (now Fiat Chrysler) struggled during the 2008 recession. A six week release time frame may be possible, but Musk and Tesla at large have a bit of a track record when it comes to missing deadlines.
"Given the feedback I've received, it's apparent that most of Tesla's existing shareholders believe we are better off as a public company", Musk wrote Friday. The SEC charged in a lawsuit that Musk had misled investors, and Tesla and Musk agreed last month to each pay $20 million and have Musk step down as chairman of the board.
The SEC's question may hinge on whether Musk could have known during that Q3 earnings call that the problems with the Model 3 assembly line would take longer to fix than his production forecast projected. The fund already had purchased almost 5% of Tesla shares on the open market, and fund officials urged Musk to accept an additional investment to take the company private.
Tesla shares closed up less than half a percent to $346.41 on Friday.