Tesla (NASDAQ:TSLA) gave up some its gains Friday as the FBI reportedly launched a criminal probe into whether the electric automaker had misstated production figures and misled investors, according to a Wall Street Journal article published Friday.
The FBI were reviewing Tesla's stated Model 3 numbers going back to early 2017, the Journal reported, citing unnamed sources.
Shares of Tesla nosedived on the news, but have since pared losses to trade 3.5% higher.
In a response to the WSJ report, Tesla blamed difficulties in its production ramp for the delay in meeting its 5,000-unit-per-week guidance.
The company also confirmed it had received a voluntary request for documents from the Department of Justice about its public guidance for the Model 3 ramp and said it was cooperating in responding to the request.
"We have not received a subpoena, a request for testimony, or any other formal process, and there have been no additional document requests about this from the Department of Justice for months," Tesla said in a statement.
