Re:Tesla’s Musk pulled the plug on a settlement with the SEC...
by JumpCrisscross on Friday September 28, 2018 @10:18AM
(#18093543)
> Kick out the visionary
That wasn't what the SEC proposed in their no-guilt settlement. It was Elon giving up the Chairmanship and appointing two independent directors. That isn't crazy. It wasn't dethroning the king. It was adding sensible checks to a situation that screams for them.
That offer was rejected. The SEC's response is to hem to the statutory punishment for public, material misstatements in a corporate announcement by senior officers.
That wasn't what the SEC proposed in their no-guilt settlement. It was Elon giving up the Chairmanship and appointing two independent directors. That isn't crazy. It wasn't dethroning the king. It was adding sensible checks to a situation that screams for them.
That offer was rejected. The SEC's response is to hem to the statutory punishment for public, material misstatements in a corporate announcement by senior officers.