"Musk" and "prison" - until recently these two words could not be imagined in one sentence.
Unfortunately, a real criminal case has been started against the head of Tesla, all because of a couple of messages on Twitter (literally).
The US Securities and Exchange Commission (SEC) filed a civil lawsuit against Elon Musk in the federal court in New York. The regulator accuses the businessman of fraud with securities. After the statement of the SEC, company’s shares immediately collapsed by 13%, though later they regained some of their value. So after the publication of tweets about the redemption of Tesla shares, Musk can lose everything.
If found guilty, the billionaire may be threatened with suspension from the leadership of Tesla, fines, and even imprisonment. This was the opinion expressed by former SEC chairman Harvey Pitt. In any case, even the very existence of a claim may cause serious damage to the Tesla brand.
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The US Securities and Exchange Commission (SEC) filed a civil lawsuit against Elon Musk in the federal court in New York. The regulator accuses the businessman of fraud with securities. After the statement of the SEC, company’s shares immediately collapsed by 13%, though later they regained some of their value. So after the publication of tweets about the redemption of Tesla shares, Musk can lose everything.
If found guilty, the billionaire may be threatened with suspension from the leadership of Tesla, fines, and even imprisonment. This was the opinion expressed by former SEC chairman Harvey Pitt. In any case, even the very existence of a claim may cause serious damage to the Tesla brand.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.