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    Will Elon Musk be sanctioned for Tesla buyout tweet?

    Created by traviswfisher on {{qctrl.question.created_time | dateStr}}.
    Community prediction hidden until {{qctrl.question.cp_hidden_period_ends_time | dateStr}}
    Published by traviswfisher on {{qctrl.question.publish_time | dateStr}}.

    Question

    On August 7, Elon Musk tweeted "Am considering taking Tesla private at $420. Funding secured."

    In the days since, there has been no followup information about what funding has been secured. News reports indicate even Tesla's board of directors have not been given any detailed information.

    The SEC is reportedly investigating this as a possible case of illegal market manipulation.

    Will Musk face serious repercussions from his tweet?

    This will resolve positive if, by the end of 2018, Musk is indicted for market manipulation or other related crimes on the basis of that tweet, or if Musk is forced to step down from his role as CEO of Tesla and that tweet is mentioned as part of the basis of that decision, or if he is fined by the SEC or some other regulatory body in an amount exceeding USD $1M.

    Categories:
    Industry – Transportation
    Law – Court Cases
    Technology – Automotive

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