Daily Archives: September 22, 2022, 5:24 pm

Boeing to Pay $200 Million to Settle SEC Charges that it Misled Investors about the 737 MAX

The Securities and Exchange Commission today charged The Boeing Company and its former CEO, Dennis A. Muilenburg, with making materially misleading public statements following crashes of Boeing airplanes in 2018 and 2019. The crashes involved Boeing’s 737 MAX airplane and a flight control function called the Maneuvering Characteristics Augmentation System (MCAS). According to the SEC’s orders, after the first crash,…

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Don’t believe the ‘maximalists’: bitcoin can’t be separated from crypto | Financial Times

The real reason bitcoin maximalists want to separate bitcoin from the rest of crypto is to create the illusion of scarcity in a world where there is none. CoinMarketCap now lists more than 21,000 different crypto tokens, which bitcoin maximalists call “shitcoins”. Of course they do — if there is infinite supply, how can there be any value? This is…

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Enemy of the SPAC: Law Professor Takes Deal Sponsors to Court

Stanford Law Professor Michael Klausner toiled in academic obscurity for decades until 2020, when he wrote a paper slamming special purpose acquisition companies as a rip-off of everyday investors. Now he’s taking his newfound cache to Delaware Chancery Court. He’ll argue in a Friday hearing that blank-check company GigCapital3 Inc. did what SPACs across the industry do—hide from investors how…

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Why the Crypto World Flinches When the SEC Calls Coins Securities – The Washington Post

7. What coins are or aren’t considered a security? The short answer is that beyond the very biggest cryptocurrency there’s a lot of ambiguity. US regulators including the SEC agree that Bitcoin, which is by far the largest digital asset, isn’t a security. It was started by an unknown person or persons going by the pseudonym Satoshi Nakamoto and does…

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Trump’s social media company threatens to sue SEC over delayed DWAC SPAC deal | Seeking Alpha

Former President Donald Trump’s social media company, Trump Media & Technology Group, threatened on Wednesday to sue the Securities and Exchange Commission over the delayed merger with SPAC Digital World Acquisition (NASDAQ:DWAC). “In light of the obvious conflicts of interest among SEC officials and clear indications of political bias, TMTG is now exploring legal action against the SEC,” TMTG said…

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