The SEC and Tesla’s board face the same conundrum: How to reprimand Elon Musk without causing potential harm to investors
Any action that curtails Elon Musk’s leadership responsibilities risks hurting the value of Tesla because his identity is closely intertwined with the company’s value, one observer said. Photo: Kiichiro Sato/Associated Press 1 Comments By Tatyana Shumsky and Tatyana Shumsky The Wall Street Journal BiographyTatyana Shumsky @MissShumsky [email protected] Nina Trentmann Nina Trentmann The Wall Street Journal BiographyNina Trentmann @Nina_Trentmann nina.trentmann [email protected] Feb.
“The SEC has bent over backwards to allow Tesla to continue to get the benefits of Musk’s creative genius, but they have also attempted to put in place procedures and methodologies to prevent shareholders from being misled by his tweets,” said Harvey Pitt, former chairman of the SEC. The regulator and Tesla’s board face the same conundrum if he is found in contempt: how to reprimand Mr. Musk without causing potential harm to investors. Mr.
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