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The US Securities and Trade Fee is suing Tesla founder and CEO Elon Musk.

The go well with accuses Musk of false or deceptive statements about taking Tesla non-public at $420 per share. As a part of the submitting, the SEC reveals what Musk says his reasoning was for the precise value level.

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The submitting says that Musk claims he calculated the $420 value level based mostly on a 20% premium on the day’s closing share value, which resulted in a value of $419.

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“Musk acknowledged that he…

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