On August 15, on Bloomberg TV’s “What'd You Miss?,” securities and governance practice chair Keith Higgins discussed whether Elon Musk could face a fine if the SEC determines he violated securities laws when he tweeted “funding secured.” Mr. Higgins notes that cautious people may think the use of “funding secured” is overly optimistic, however, it will depend on the facts if a fine is issued.
“He has done the right thing by hiring a first-class advisor to bring guidance and advice to the process. I would urge him is to settle this quickly if he wants to avoid the distraction in taking Tesla private,” states Mr. Higgins on the SEC probe into this matter with Mr. Musk.
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