IA01 -The SWC Threatens to Ban Elon Musk from Running Any Public Company
On August 7th, 2018, Elon Musk tweeted, "Am considering taking Tesla private at $420. Funding secured." This statement started an outright frenzy for stockholders of the company. Since this event, the Securities and Exchange Commission (SEC) has decided that they want to ban Musk from serving as a director or senior officer at any publicly listed company. This ban intentionally includes Tesla. The SEC has now arranged to file a civil lawsuit against Musk but not Tesla. They intend to do so in saying that he mislead shareholders about his plan to take the company private. Topics such as this have been discussed in our textbook in terms of forms of busine...