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>> Tesla investors basking in the glow of the electric car maker's quarterly profit revealed this week, getting a reminder Friday that legal clouds are still hanging over the company. Tesla forced to issue a public statement that it has not received a subpoena from the Department of Justice after the Wall Street Journal reported Tesla is facing a deeper criminal probe.
The FBI reportedly looking into whether Tesla misstated production figures on the all important Model 3 going back to early 2017. Tesla says, it did get a voluntary request for documents tied to its public guidance on increasing production for the Model 3 earlier this year. But a spokesperson clarifying to Reuters, quote, there have been no additional document requests about this from the Department of Justice for months.
As for the claim that it mislead investors with production forecasts was closely watched mid-priced electric car. Tesla had this response, our quote philosophy has always been to set truthful targets, not sandbagged targets, that we would definitely exceed and not unrealistic targets that we could never meet. Tesla is still facing a rash of lawsuits over CEO Elon Musk's abandoned idea of taking the company private.
And Musk had to give up his Chairman role for three years to settle fraud accusations made by the Securities and Exchange Commission. Speculation over a deeper FBI probe taking some wind out of Tesla's recent gains, sparked by Musk making good on his promise to finally turn a profit.
>> It'll