Funny how Musk never tries to outwit and outplay the CCP in China. And its a stain on our democracy how regulatory authorities during the time of Orange Julius kowtowed to the super-rich:
1) $TSLA & $TSLAQ peeps:
May 24, 2022
11:44 AM UTC
Last Updated 20 min ago
Reuters Headline: In a faceoff with Elon Musk, the SEC blinked
By Chris Prentice and Michelle Price
Judge’s remarks in 2019 knocked SEC’s confidence court would back them
Core issue - what is “material” information - was left to Musk and Tesla to decide
As some tweets went unvetted, SEC opted to urge Musk to comply, rather than go to court
SEC was also uneasy about risk of starting litigation given Musk’s resources
WASHINGTON, May 24 (Reuters) - U.S. securities regulators have pulled their punches in dealings with Elon Musk largely because an April 2019 court hearing on a statement he made about Tesla on Twitter didn’t go their way, according to four sources with knowledge of the matter.
The U.S. Securities and Exchange Commission (SEC) asked the court to hold the billionaire in contempt, saying a tweet by the Tesla Inc. (TSLA.O) CEO - which forecast production at the carmaker - violated a court agreement Musk signed the previous year to have some of his communications vetted by a lawyer.
By trying to rein in his comments, the SEC was veering into relatively uncharted territory. SEC rules require that public companies and their executives disclose accurate information that may be material to investors via channels that investors know to monitor. It doesn’t usually specify how companies should do that.