Elon Musk’s apparent breach of stock-disclosure rules in his Twitter takeover bid is putting pressure on regulators to revamp decades-old market safeguards that watchdogs say are failing to protect investors
The Musk-focused debate is the latest example of how the billionaire has challenged the authority of the SEC in recent years. | Patrick Pleul/Pool Photo via AP, File.
“Any delay whatsoever creates a huge opportunity for abuse and insider trading,” said Healthy Markets Association executive director Ty Gellasch, a former SEC official. Musk’s actions highlight why the rule matters, said Jill Fisch, a business law professor at the University of Pennsylvania law school. Twitter shareholders have already filed a class-action lawsuit against Musk, alleging that he ripped them off to the tune of $143 million.
Former SEC Chair Harvey Pitt, who led the agency under former President George W. Bush, said the deadline should be “as close to ‘real time’ as possible.”
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Why Elon Musk Should Protect Porn Stars on TwitterOPINION | 'If Musk, or whoever the hell ends up owning Twitter, wants to protect free speech, they need to enshrine the speech of the porn club nobody wants to hear from, even if they disagree with our profession,' writes Cherie DeVille
Les mer »
Elon Musk’s Twitter Plans Would Mean Less Free Speech for ManyThe platform has a history of standing up to governments. Its billionaire suitor wants to follow their rules to the letter.
Les mer »
Elon Musk weighs in on Depp-Heard trial: 'I hope they both move on'Elon Musk, who previously dated Amber Heard, says that she and Johnny Depp 'at their best, they are each incredible.' Musk tweeted about the defamation trial.
Les mer »
Elon Musk on Johnny Depp and Amber Heard: ‘At their best they are each incredible’Musk’s tweet was in response to MIT research scientist and podcaster Lex Fridman.
Les mer »
When I First Saw Elon Musk for Who He Really IsAt a charging station. In the middle of nowhere. Surrounded by cows.
Les mer »