• How Elon Musk's Twitter Blocking Could Land Him In SEC Trouble

    2 monthes ago - By Fortune

    Elon Musk's tweet Tuesday announcing that he was “considering taking Tesla private” may have been illegal-but not for the reasons many people think.
    Using Twitter to disclose such crucial market-moving information may seem unorthodox. But the platform has been a bonafide channel for investor communication since 2013, when the Securities and Exchange Commission blessed social media as a valid disclosure method-as long as companies gave investors a heads-up they would post it there.
    Tesla complied with this requirement a few months later, directing investors, in a November 2013 earnings...
    Read more ...

     

  • Tesla's board may reportedly tell Elon Musk to recuse himself from talks about taking the company private

    2 monthes ago - By Chron

    Chris Pizzello / AP
    Tesla's board of directors may tell CEO Elon Musk to recuse himself as it explores the possibility of taking the company private, CNBC reports, citing people familiar with the matter.
    According to the publication, the board plans to meet with financial advisors to determine how it will explore the idea of converting Tesla into a private company and has told Musk that he must consult a separate, personal set of advisors.
    The board will probably form a smaller, special committee comprised of independent directors to analyze buyout proposals, CNBC reports.
    Read more ...