The SEC reportedly sent subpoenas to Tesla concerning Elon Musk's tweets about taking Tesla private (TSLA)

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• The Securities and Exchange Commission has sent subpoenas to Tesla concerning the company's plans to explore going private and CEO Elon Musk's statements about the process, Fox Business reports.
• Fox Business reporter Charles Gasparino said on Twitter that sources suggested the agency was moving into a formal investigation of Tesla.
• Tesla and the SEC declined Business Insider's requests for comment.

The Securities and Exchange Commission has sent subpoenas to Tesla concerning the company's plans to explore going private and CEO Elon Musk's statements about the process, Fox Business reports.

Fox Business reporter Charles Gasparino said on Twitter that sources suggested the agency was moving into a formal investigation of Tesla.See the rest of the story at Business Insider

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• Elon Musk reveals new details about taking Tesla private, says he thought tweeting announcement was 'the right and fair thing to do'

SEE ALSO: Elon Musk may only face a minor fee if the SEC investigates his tweet storm about taking Tesla private — here's why