Elon Musk is being sued by the SEC for securities violations , but it seem this full situation could have been avoided on two decided chance .
https://gizmodo.com/securities-exchange-commission-reportedly-sues-elon-mus-1829371453
The first and most obvious was Musk ’s continued usage of Twitter , where he send the “ funding stop up ” tweet that got him into raging water with the SEC . The second , fit in toreportingby the Wall Street Journal , was a colonisation the bureau offer up , and which Musk rejected at the last minute :
The SEC had craft a colony with Mr. Musk — approved by the authority ’s commissioner — that it was develop to file Thursday forenoon when Mr. Musk ’s lawyers called to tell the SEC lawyers in San Francisco that they were no longer concerned in proceeding with the accord , concord to people familiar with the subject .
A source whospoketo CNBC ’s Robert Ferris impart [ emphasis ours ] :
Musk reportedly deny to sign on the mass because he felt that by go down he would not be truthful to himself , and he would n’t have been able to be with the approximation that he agreed to accept a colony and any defect consociate with that
The footing of the SEC ’s suit call , among other matter , for Musk to be barred from pretend as an officer or director of a public fellowship , though the resolution also stipulate Musk ’s impermanent removal as a director , agree to CNBC .
We ’ve attain out to Tesla for comment and will update if we hear back .
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