The Securities and Exchange Commission has reportedly opened an investigation into Tesla Motors (TSLA) over the automaker's failure to disclose a fatal accident that occurred in one of its automobiles prior to a secondary stock offering.
The SEC is investigating whether it should have disclosed the crash as a "material event", a development that investors might consider important.
But Tesla's reputation has been hit by a fatal crash involving its self-driving system in Florida, and another crash in Pennsylvania, sparking federal safety investigations.
Almost 10 years after Elon Musk blogged about a Secret Tesla Master Plan that involved building what would become the first luxury sports Model S, the Tesla chairman has hinted he is about ready to drop part two of his Top Secret Tesla Masterplan.
The company has been criticised for not telling investors of the death of a Tesla Model S driver. According to Tesla, the extent of the damage to the vehicle limited the the ability to remotely recover data and that "it was not until May 18th that a Tesla investigator was able to go to Florida to inspect the auto and the crash site and pull the complete vehicle logs from the car" to determine whether the Autopilot system was active.
Tesla's shares fell 1% in after-hours trading after the report about the perceived SEC investigation.
SEC spokeswoman Florence Harmon declined to comment.
Musk teased the release in a tweet Sunday: "Working on Top Secret Tesla Masterplan, Part 2. Hoping to publish later this week", he wrote.
The last couple of weeks have not been the best for Tesla Motors, Inc.
Musk also gave an overview of Tesla's mission "to help expedite the move from a mine-and-burn hydrocarbon economy towards a solar electric economy".
- Tesla quarterly report, March 31, 2016.
Musk also came in for personal criticism after Tesla's attempt to buy SolarCity, which is run by the CEO's cousin Lyndon Rive.