Mr. Musk’s criticism of the agency appears petulant and poorly timed, given his need to have the settlement approved, but it is not the type of statement that misleads shareholders. It does indicate that he may not be as contrite as other defendants who settle with the S.E.C., however, and could violate the injunction. That could have serious consequences by allowing the S.E.C. to ask the federal court to impose additional penalties.
‘Enforcement 40’ for 2020
Join Us On LinkedIn
Join the Securities Litigation and Enforcement Group on LinkedIn