Daily Archives: April 16, 2020, 8:22 pm

Musk’s “Take Private” Tweets Held Actionable | The D&O Diary

In a now infamous August 7, 2018 post on his Twitter account, Tesla CEO Elon Musk stated that he was “considering taking Tesla private at $420. Funding secured.” This post and several subsequent messages ultimately were the subject of an SEC enforcement proceeding (later settled) as well as several securities class action lawsuits (later consolidated). On April 15, 2020, Northern…

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SEC Awards Over $27 Million to Whistleblower

The Securities and Exchange Commission today announced an award of more than $27 million to a whistleblower who alerted the agency to misconduct occurring, in part, overseas.  After providing the tip to the Commission, the whistleblower provided critical investigative leads that advanced the investigation and saved significant Commission resources. “This award marks several milestones for the program,” said Jane Norberg,…

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