Tesla's secondary stock offering included several million dollars of shares belonging to Elon Musk, so he stood to lose personally if news of the crash had affected the stock offering.
Tesla has stated publicly the company had no reason to disclose the accident to its investors because it did not see the accident as material to company performance.
In a tweet posted on Sunday, the electric auto firm's chief said that this release would be "Part 2" of his plan-seemingly referring to a post he wrote nearly exactly a decade ago, entitled "The Secret Tesla Motors Master Plan (just between you and me)". Musk owns SolarCity, a solar energy design and supply company. According to a statement Tesla issued, the car's autopilot and the driver both failed to discern the white tractor-trailer against a bright sky, so the brakes were not applied.
Tesla stock is down almost 15% since late April.
Musk last week used his Twitter account to mount a defense of Tesla's decision not to disclose the accident until June 30, when NHTSA said it was launching its investigation. And they may want some reassurances that Tesla's Autopilot system is safe after OH resident Joshua Brown was killed in May when his Model S sedan crashed into a truck despite having the partially self-driving system activated.
Tesla Motors is now the target of an investigation after a fatal accident with a Tesla Model S that was allegedly caused by the car's autopilot.
On July 1, well-known Southfield art dealer Albert Scaglione and his son-in-law, Tim Yanke, were injured when Scaglione's Tesla Model X hit a guardrail along the Pennsylvania Turnpike near the town of Bedford.
A source close to the investigation told The Wall Street Journal that the SEC is digging into whether Tesla should have disclosed the May 7 accident to investors as a "material" event-that is, one that would be of interest to a reasonable investor in the company.
Musk also came in for personal criticism after Tesla's attempt to buy SolarCity, which is run by the CEO's cousin Lyndon Rive.
Tesla also said last week that shipments to customers fell in the past three months.