FCPA Compliance Report - Karen Woody on Elon Musk Attack on SEC Consent Decree
Compliance Into The Weeds - Elon Musk and Tesla Redux
Top Five Corporate Scandals of 2018: Episode IV-Tesla and its Elon Problem
This Week in FCPA-Episode 129, week ending November 16, 2018 - the Farewell to Stan Lee edition
Last month, the SEC announced another enforcement action emphasizing the need for early disclosure of cybersecurity events. In the recent action, the company had taken three weeks to act on internal alerts of malware on its...more
This week, we discuss a downward revision to electric vehicle manufacturer Tesla Inc.’s governance grade and the equally controversial topic of diverging ESG ratings methodologies. Investigative findings published in May this...more
On February 3, 2023, in the matter In re Tesla Inc. Securities Litigation, Case No. 3:18-cv-04865, a California federal jury cleared Tesla, Inc. (Tesla), and CEO Elon Musk of claims that they committed securities fraud,...more
On February 3, 2023, a federal California jury found Elon Musk not liable for losses experienced by Tesla investors following his August 2018 tweet stating he had “funding secured” to take the company private. The...more
Amidst all the controversy and legal proceedings involving Elon Musk, one could overlook the fact that he and his company Tesla are on trial now in U.S. District Court for securities fraud. Yet they are: a jury has been...more
Forward-looking statements—statements that evidence management’s beliefs about what the future holds—can be valuable to analysts and investors. They are also very interesting to plaintiffs’ attorneys, especially if those...more
On May 10, 2022, Judge Edward Chen of the United States District Court for the District of Northern California unsealed an April 1, 2022 order granting in part a motion for summary judgment in a securities class action...more
Falling retail profits and lowered forecasts for the year to come helped drive a mega midweek selloff on Wall Street, as “stocks had their worst day yet in a series of already ugly drops after shrinking profits by major...more
On April 27, 2022, the Delaware Court of Chancery in In re Tesla Motors Stockholder Litigation rendered a post-trial verdict finding for Elon Musk, co-founder and CEO of Tesla Motors, Inc., on claims that Musk breached his...more
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
Tesla’s new Berlin factory officially kicked off the production process on Tuesday, with ambitious plans to churn out some 500,000 EVs a year. The $7 billion plant, completed in just 2 years, will focus on Model Y SUV...more
In this episode of the FCPA Compliance Report, I am joined by Professor Karen Woody from Washington & Lee Law School and discuss the recent filing by attorneys for Elon Musk and Tesla to revoke the previously agreed to...more
Tesla CEO Elon Musk moved this week in SDNY federal court to “scrap a settlement he reached with securities regulators in 2018 that required some of his tweets to be preapproved, a condition that has fomented an ongoing...more
The SEC is reportedly probing whether recent stock sales by Tesla’s CEO Elon Musk and his brother Kimbal “violated insider-trading rules.” News of the investigation came less than a week after Tesla accused the Commission of...more
Recent news of misinformation out of Russia about alleged troop withdrawals (when, in fact, troops and shelling near the border are up) sent skittish markets down on Thursday. Tech companies were again among “some of the...more
Compliance into the Weeds is the only weekly podcast that takes a deep dive into a compliance-related topic, literally going into the weeds to explore a subject more fully. This week, Matt and I return to one of Matt's...more
California’s Department of Fair Employment and Housing has filed a state court action against Tesla that alleges “racial discrimination and harassment at the electric-vehicle maker[‘s]” Fremont factory, the company’s...more
Samsung surprised the business world today by replacing the “heads of its three major business units and merg[ing] the company’s mobile and consumer electronics businesses into a single unit.” The moves mean the South Korean...more
The inflation train continued its runaway pace in October, with the CPI rising 6.2%—the “sharpest increase” since 1990. The news is challenging politically for the administration but also for policymakers at the Fed, who are...more
Apple has officially appealed the September verdict in its years-long battle with Epic Games that was set to “require the tech giant to tweak its strict App Store rules and force it to allow app developers of ways to pay for...more
And like that [poof], Ozy Media is no more, shutting down on Friday after an incredible 5-day period in which reporting from Ben Smith “raised questions about the company and its leadership team” after a phone call in which a...more
President Biden sat down with a range of executives from Microsoft to Columbia Sportswear to discuss the administration’s recently announced vaccine mandates...more
A New York federal bankruptcy judge provisionally approved an opioid settlement plan on Wednesday that will dissolve Purdue Pharma and require members of the Sackler family (which owns Purdue) to “turn over billions of their...more
Thursday delivered some welcome good news in the slow push for a labor market recovery. The Labor Department reported that new jobless benefits claims “fell to their lowest weekly level in the last year, a sign that the...more
Foley & Lardner’s Weekly Automotive Report helps automotive suppliers inform their complex legal and operational decisions on market trends and regulatory matters, OEs and suppliers, connected/autonomous vehicles and mobility...more