Who maintains Elon's file on court cases? Must be a regiment of lawyers; but then, when you're the richest man on the planet with a company that publishes all your mental whims, it's not a big deal, even when it's the Federal Government going after you. In this case, the S>E>C> wants some of Elon's butt for violating reporting rules on stock purchases ahead of the pack. When he decided he wanted Twitter, he began buying the stock. At a certain date, he exceeded the 5% rule which requires an announcement to the public sphere of your purchases. He was late, taking advantage of the market's ignorance of his position which exceeded 5%.
Let's assume that Gary Gensler is out in a week. Will the new S.E.C. chief follow up on the charges? Hmmm. A Trump appointee. What will Trumpie tell him to do-pursue of forget it? Money says we'll never hear another word by January 22, 2025.
No comments:
Post a Comment