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A comment on SEC Sues Musk and Seeks Ban for His Tweets on Go-Private Deal. Parent comment

Re:SEC Sues Musk and Seeks Ban for His Tweets on Go-Private ... by dabockster on Thursday September 27, 2018 @07:50PM (#18089870)
Yep. Musk is looking at possible insider trading charges. The DOJ will absolutely throw a rich guy in federal prison for that since the damage to the economy can be enormous.
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Re:SEC Sues Musk and Seeks Ban for His Tweets on Go-Private ... by FighterMafia on Thursday September 27, 2018 @08:31PM (#18090064)
Hard to be insider trading if he didn't make any trades. Which he didn't.
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Re:SEC Sues Musk and Seeks Ban for His Tweets on Go-Private ... by simongr3dal on Thursday September 27, 2018 @08:38PM (#18090096)
But he did make frivolous statements that affected the stock price of Tesla which can be seen as manipulating the stock market, which is a crime.
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Re:SEC Sues Musk and Seeks Ban for His Tweets on Go-Private ... by brisance on Thursday September 27, 2018 @09:56PM (#18090390)
He may not have traded but his compensation is tied to the stock’s value. Which is a criminal offense since he is a direct beneficiary.
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Re:SEC Sues Musk and Seeks Ban for His Tweets on Go-Private ... by sfifs on Thursday September 27, 2018 @09:21PM (#18090286)
He may have not insider traded but market manipulation is also a crime. It is on record that Elon was looking to hurt short sellers and making materially false statements about the company can be easily argued to be a criminal act used to do so.

SEC Act - Sec 9(a)2 It is unlawful... or raising or depressing the price of such security, for the purpose of inducing the purchase or sale of such security by others.

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