The SEC reportedly sent subpoenas to Tesla concerning Elon Musk's tweets about taking Tesla private

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Tesla CEO Elon Musk has attracted controversy for his statements about potentially taking Tesla private.

The Securities and Exchange Commission has sent subpoenas to Tesla concerning the company's plans to explore going private and CEO Elon Musk's statements about the process, Fox Business reports.

Fox Business reporter Charles Gasparino said on Twitter that sources suggested the agency was moving into a formal investigation of Tesla.

The Wall Street Journal reported last Wednesday that the SEC had made an inquiry into Tesla about whether one of Musk's tweets regarding the possibility of taking the company private was truthful. And on Thursday, Bloomberg reported that the agency was "intensifying" its inquiry.

Tesla and the SEC declined Business Insider's requests for comment.

This is a developing story. Check back for updates.

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