What does the SEC lawsuit mean for Elon Musk?

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The Securities and Exchange Commission accused Tesla CEO Elon Musk of securities fraud Thursday in a civil lawsuit charging him with lying or recklessly misleading when he tweeted that he had “funding secured” to take the electric car company private.

In doing so, the Wall Street regulatory agency set in motion a legal showdown with tremendous stakes that could culminate in Musk’s removal from Tesla leadership and cause serious financial damage to the company.

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