When Elon Musk published his message that will make Tesla a private company by buying back shares and dissolve the stock investors, once it became clear that very soon they will be interested, the Commission on securities and stock exchanges, it is also SEC. First question: are you serious, Elon? (No, of course not). Second question: why Twitter? Third question: does Tesla that this news violate the rules about the protection of investors. The last question is SEC more than others.
The legality of tweets of Mask largely affects the “rule of reed Hastings”. From this it becomes clear that the companies can disclose important business information on social networks only if warn investors about where to obtain these updates. If Tesla made it clear that Musk can share valuable information on Twitter, the Executive will calm down. If he just promised them that they will learn about the news through the official accounts on the sidelines of the investors, the Mask will be a problem.
Bold statements Mask put him at risk?
No doubt Musk discussed the news with the Board of Directors a few days before that, so his statement cannot be considered a bold and irresponsible. However, the SEC may want to know whether the CEO of the company has funds for the redemption of shares and transfer of the company from public to private fields. If not, then there may be concerns that the Mask manipulated the shares of the company.
With the SEC trifled with. Because of the pending decision of the SEC on bichenovii futures the cryptocurrency market dipped by 20%, and this is hoo.