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Enforcement Actions Securities and Exchange Commission (SEC) Elon Musk

Cooley LLP

SEC files complaint against Elon Musk alleging violation of Section 13(d)

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On Tuesday, the SEC filed a complaint in the D.C. federal district court alleging that Elon Musk ignored the Section 13(d) beneficial ownership reporting deadline when, in March 2022, he acquired more than 5% of outstanding...more

Goodwin

Dismissal of Putative Securities Class Action for Bellus Health, Inc.

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On September 21, 2022, U.S. District Judge George B. Daniels of the Southern District of New York dismissed with prejudice a putative securities class action against BELLUS Health, Inc. and certain of its officers....more

Goodwin

SEC Sues and Settles Claim Against Investment Adviser Representative For “Cherry-Picking Scheme” After Entry of Cease and Desist...

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​​​​​​​On September 13, 2022, the U.S. Securities and Exchange Commission (“SEC”) announced a settlement with investment advisory firm Buckman Advisory Group LLC (“Buckman Advisory”) and its CEO Harry Buckman Jr. to settle...more

Thomas Fox - Compliance Evangelist

Everything Compliance - The Elon Etc Edition

Welcome to the only roundtable podcast in compliance. In 2021, Everything Compliance was honored by W3 as a top talk show in podcasting. In this episode, we have the quintet of Jay Rosen, Jonathan Armstrong, Jonathan Marks,...more

Kohrman Jackson & Krantz LLP

The Ongoing Battle Between Musk And The Sec Heats Up Again

ELON’S MUSK TUMULTUOUS HISTORY WITH THE SEC - Tesla’s colorful CEO, Elon Musk, has a history of feuding with the Securities and Exchange Commission (SEC), and it looks like the fight isn’t over. In 2018, the SEC...more

Butler Snow LLP

The SEC – It Just Means More

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The Securities and Exchange Commission (“SEC”) was established by the passage of the Securities and Exchange Act of 1934 following the stock market crash of 1929.sec The Act gave the newly formed SEC power to regulate the...more

BCLP

Securities and Corporate Governance Update – July 2019

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This newsletter discusses noteworthy updates, key regulatory decisions and upcoming compliance reminders. ...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Elon Musk and the SEC have reached an agreement to revise their earlier agreement to settle the latest round of issues caused by Musk’s Twitter habit. Under its terms, a Tesla securities attorney must now “preapprove any of...more

Stoel Rives LLP

In Case You Missed It - Interesting Items for Corporate Counsel - March 2019

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Heaping further empirical evidence on the postulate that self-indulgence trumps common sense, Elon Musk is at it again, now charged by the SEC with violating his earlier settlement agreement, which required that he pre-clear...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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GE—still in streamlining mode—agreed yesterday to sell its biopharma business to Danaher (current CEO Larry’s Culp’s former company, btw) for a reported $21.4 billion in the form of $21 billion in cash and $400 million in...more

Robins Kaplan LLP

When Does a Tweet Fall Afoul of Regulation FD

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On August 7, 2018, Tesla CEO Elon Musk used his personal Twitter account (@elonmusk) to propose a buyout of the company for $420 a share, stating that funding was secured....more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Sears marked the end of an era today, as the store that “more than a century ago pioneered the strategy of selling everything to everyone” filed for bankruptcy protection early this morning....more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Blink, and it’s Jobs Report Friday again.  Where does the time go? Here’s what we’re watching for in the numbers....more

Dorsey & Whitney LLP

The SEC’s Recent Settlement with Tesla and Elon Musk Teaches Us a Valuable Corporate Governance Lesson

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The SEC’s settlement with Tesla and Elon Musk teaches us some important corporate governance lessons on monitoring and vetting executive use of social media. As background, on August 7, 2018, the markets were surprised by...more

Burr & Forman

Tweet Suit

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So maybe it’s not such a good idea for a volatile, impulsive chief executive to use his personal Twitter account to announce major policy shifts. No, no – not that one....more

Porter Hedges LLP

Business Litigation Alert: Elon Musk Tweets His Way Into The SEC’s Crosshairs

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As we have discussed in previous newsletters, Tesla is in a very difficult position based on the actions of CEO Elon Musk. With one tweet about the company going private, he put the company directly in the sights of the...more

Troutman Pepper Locke

Tweeting Misleading Information is Not an Acceptable Response to Short Sellers

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We recently wrote about short sellers being the scourge of public companies and the availability of a response from the SEC). The SEC has now made clear in an enforcement action against Elon Musk, the CEO of Tesla Inc., a...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Though he was apparently ready to go with his “verbal agreement with the Saudis” defense, Elon Musk capitulated to pressure “from his lawyers and investors of Tesla” and agreed to resolve all SEC allegations of wrongdoing,...more

Stinson - Corporate & Securities Law Blog

Elon Musk, Twitter and Disclosure Controls and Procedures

In perhaps the fastest moving SEC enforcement action of all time, the SEC charged Elon Musk with securities fraud on September 27, 2018 after settlement agreements reportedly fell apart....more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Hard to imagine that any financial news could come close to making headlines on Thursday, and yet, the SEC and Elon Musk came close. Specifically, the SEC filed suit against Musk, accusing him of “making false public...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Google is facing a federal lawsuit in San Francisco over last week’s AP investigation that showed that the search giant “was sill tracking iPhone and Android device users, even if they turned off the ‘Location History’...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The rise of tariffs as a trade weapon has put the WTO in a very difficult position as “chief judge in an intense fight among its most powerful members”....more

Robins Kaplan LLP

Your Daily Dose of Financial News

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After more than 110 years as one of its mainstays, General Electric is out of the Dow Jones Industrial Average. It will be replaced by drugstore retailer Walgreens Boots Alliance....more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Chalk one up for big Carl (and Darwin).  Xerox announced this weekend that it’s bowing to Icahn’s pressures and ending its $6.1 billion combination with Fuji....more

Robins Kaplan LLP

Your daily dose of financial news - The Brief – 6.22.16

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Elon Musk is curing what ails SolarCity by having his Tesla motors company buy it—a move he’s called “obvious” [though others disagree] but which will leave him personally exposed to margin calls if the stock price for the...more

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