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Exclusive-SEC is investigating Tesla for its alleged wrongdoing

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© Reuters. PHOTOS: The company’s logo is displayed at the SolarCity home in Denver February 17, 2015. REUTERS / Rick Wilking / File Photo

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By Hyunjoo Jin

SAN FRANCISCO (Reuters) – A U.S. security official opens an investigation into Tesla (NASDAQ 🙂 Inc on whistleblower complaints that the company failed to inform its shareholders and public about the fire hazards linked to solar panels over several years, according to a letter from the council.

The study raises the pressure on the world’s most important car manufacturer, who already faces federal safety investigations on accidents affecting its drivers ’assistants. Fire alarms from Tesla’s solar panels have already been published, but this is the first report of an investigation by a security guard.

The US Securities and Exchange Commission disclosed Tesla’s investigation in response to a request by Steven Henkes, a former Tesla national manager, who filed a complaint against solar panels in 2019 and asked the agency for more information on the report. .

“We have confirmed to staff at the Division of Enforcement that the research required for the record is still valid and ongoing,” the SEC said in Sept. 24 Henkes’ response, declining his request to provide his notes. The SEC chief executive said that the letter should not be taken as an indication that the commission has committed a crime. Reuters confirmed that the SEC’s letter was valid.

Henkes, old Toyota The Motor Superintendent (NYSE 🙂 was fired from Tesla in August 2020 and filed a lawsuit against Tesla alleging that the dismissal was retaliation for safety concerns. Tesla did not respond to queries sent by Reuters, while the SEC declined to comment.

In a complaint to the SEC, Henkes argued that Tesla and SolarCity, acquired in 2016, did not specify “liability and disclosure of property damage, consumer risk, fire, etc. to owners” prior to and after acquisition.

Tesla also failed to inform its customers that weak electrical wiring could cause a fire, according to complaints.

Tesla told consumers that it needs to repair solar panels to avoid failures that could shut down the system. It did not warn of fire hazards, provide temporary closures to reduce risk, or explain problems to regulators, Henkes said.

Tesla shares fell 5.5% at $ 960.25 Monday after a Reuters report.

EX-TOYOTA QUALITY MANAGER DOES NOT REVEAL A SKIN

More than 60,000 U.S. customers and 500 government and business accounts have been affected, according to a lawsuit filed in November last year against Tesla Energy for misconduct.

It is unknown at this time what he will do after leaving the post.

Henkes, a long-time manager at Toyota in the North American quality division, moved to SolarCity as a top engineer in 2016, just months before Tesla bought SolarCity. After the purchase, his job changed and he realized the problem was widespread, he told Reuters.

Henkes, in a SEC complaint, said he had told Tesla executives that Tesla should shut down the solar panels, alert security officials and alert customers. When his phones were ignored, he submitted complaints to the controllers.

“The chief justice warned that any public comment on the matter would tarnish Tesla’s reputation. To me this is a criminal offense,” he told the SEC.

Cases and concerns over Tesla’s misalignment and solar problems began several years ago. Walmart (NYSE 🙂 in 2019 against Tesla said the last solar system sparked a seven-store fire. Tesla denied the allegations and the two settled.

Business Insider also reported on Tesla’s program to replace solar panels that crashed in 2019.

Several residential customers or their insurers have sued Tesla and its shareholder Amphenol (NYSE 🙂 for a solar-related fire, according to documents provided by the conservative PlainSite team.

Henkes also lodged a complaint with the US Consumer Product Safety Commission, which CNBC said this year was investigating. CPSC and Amphenol did not respond to a request for comment.


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