"Elizabeth Warren Urges SEC Probe of Tesla's Financial Practices"

Senator Elizabeth Warren has urged the SEC to investigate Elon Musk's control over Tesla, citing concerns about his prioritization of his startup xAI over Tesla's growth opportunities, financial links between Musk and board members, and the board's lack of action to address these risks. Warren also criticized Tesla's reversal to pay for ads on xAI after Musk's acquisition of the company, and highlighted the Delaware Chancery Court ruling that questioned the independence of the Tesla board. The SEC has been called upon to probe Musk's conduct as CEO, with SEC Chair Gary Gensler expected to respond directly to Congress members.