Tesla and CEO Elon Musk have been sued by the Securities and Exchange Commission.
Shares of the automaker fell roughly 6 percent in extended trading Thursday.
In August, Musk tweeted that he was considering taking Tesla private, adding "funding secured."
@elonmusk: Am considering taking Tesla private at $420. Funding secured.
Musk later explained he had been in discussions with the Saudi Arabian sovereign wealth fund and felt confident the funding would come through at his proposed price of $420 per share.
—CNBC's David Faber contributed to this report.
This is breaking news. Please check back for updates.
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