The assumption is that CEO Elon Musk possibly misled investors about the production of the more affordable electric auto as production projections have consistently fallen short. Musk said the truck would also parallel park itself.
"It is possible for another SEC enforcement action down the road if it turns out that the projections were purposefully or recklessly made without a basis", Dublow, a former branch chief in the SEC's enforcement division, said.
Last week, Musk said Tesla stopped would stop selling self-driving hardware on its website because customers were confused, and "didn't understand the different between enhanced Autopilot and full=self-driving".
Reuters reports the automaker has confirmed it received a subpoena relating to the company's projections about Model 3 production in 2017.
His bet on Tesla has been a source of concern for investors amid setbacks, as well as the delayed production of Model 3 sedans and the erratic behavior of Musk. In fact, it took the company until the last week of June to reach that production number in a single week. The gambit fell apart after Musk failed to line up funding, prompting an investigation by the U.S. Securities and Exchange Commission.
The SEC fined Tesla $20 million for the claim and fined Musk $20 million and ordered him to remove himself as Chairman of the company for three years.
"Also being public, particularly when everyone at the company's a shareholder, causes a lot of distraction when the share price moves around a lot", he said. He was quick to note, however, that no company is close to offering a "generalized solution" like Tesla, meaning a self-driving vehicle that works across different countries with a myriad of different road signs and terrains.