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
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
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
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
In a rare cyber win for the good guys (at least one that’s publicly acknowledged), the DOJ revealed on Monday that it “had seized much of the ransom that a major U.S. pipeline operator had paid last month to a Russian hacking...more
Stocks fell again on Wednesday, the third day of losses in a row, and bond yields rose, spurred on by a 4.2% CPI increase as compared to a year ago. Though analysts were expecting that surge ...more
Tech stocks roared back on Tuesday just a day after the Nasdaq hit correction territory, as “buy-the-dip” won out and led to a nearly-4% jump for the tech-heavy index ...more
As we thought, stocks rallied on Monday thanks to Moderna’s news of promising results for its Covid-19 vaccine, with the Dow and S&P 500 hitting new record highs....more
Gilead Sciences Inc. reports that its remdesivir virus treatment has been positively correlated with a 62% reduction in death risks compared with the standard of care in an initial analysis....more
In Washington: As we reported, House Democrats unveiled their $3 trillion “Phase 4” coronavirus stimulus package, H.R. 6800, the “Health and Economic Recovery Omnibus Emergency Solutions Act” or the “The Heroes Act.” ...more
Tesla sues to reopen its California factory; Elon threatens to move the company out of state. The company asked a federal judge to reopen the factory, arguing that the “local government’s insistence that it remain closed . ....more
J.Crew filed for bankruptcy protection; the company’s lenders have agreed to “convert $1.65 billion . . . into equity.” Neiman Marcus Group Inc. and J.C. Penney are also on the bankruptcy path, already entering talks with...more
The Unites States District Court for the Northern District of California recently found that 10b-5 litigation regarding Elon Musk’s tweets could move forward after reviewing a motion to dismiss in In Re Tesla Inc. Securities...more
The U.S. Jobs Report Will Be Ugly: The March jobs report will likely show the worst numbers in the “post-World War II era,” and “it is playing out in a matter of weeks,” not years. One study suggests the U.S. has lost 27.9...more
A stark warning from the Centers for Disease Control that Americans should prepare for a COVID-19 outbreak sent stocks tumbling again on Tuesday, with the S&P 500 closing down 3% (and firmly in the red for the year) by the...more
It’s all coming up Elon these days for Tesla and its stock. “Positive developments” from the electric carmaker’s battery suppliers helped goose shares even higher, ending the day at $780/share—a nearly 20% gain since Friday....more
Facebook has agreed to pay $550 million to resolve a class-action lawsuit claiming that Zuck & Co.’s use of facial recognition technology violated Illinois’ biometric privacy law. Though the settlement is little more than “a...more
Facebook wages a war on misinformation. On Monday, Facebook announced it will start removing videos altered by artificial intelligence that are likely to mislead people into thinking that a subject of the video made...more
Ride-hailing company Uber has resolved EEOC charges related to its alleged “culture of sexual harassment” and will “start a $4.4 million class fund to compensate victims of sexual harassment or retaliation from as early as...more
Zuck and Co. are launching a major platform redesign as Facebook attempts to move beyond years of privacy-related scandals and promote group-based communications rather than the public-square newsfeed....more
New evidence suggests that California’s PG&E repeatedly “delayed a safety overhaul” on a high-voltage transmission line “that is a prime suspect behind the deadliest wildfire in California history.” How repeatedly? Try 5...more
Wall Street apparently views a divided Congress as a good thing (think less chance of tighter regulation), and it celebrated by pushing the Dow up 500 points and jumping back into tech stocks....more
A recap of Friday’s GDP numbers, which featured both a strong 3.5% growth rate and early signs that “the growth could cool in coming months”...more
New York has sued Exxon Mobile over its alleged failure to disclose to its shareholder the “expected risk of climate change to its business”—behavior that the state asserts amounts to a “’longstanding fraudulent scheme’ to...more
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
Less than a day after the Journal reported that CBS and the Redstones are nearing a deal to resolve their many differences, we’ve learned that CBS chief Les Moonves—facing an investigation into alleged sexual harassment...more