5 ms·
It is an interesting question. If the CEO of JPMorgan said publicly "We are bankrupt" as a joke, the impact on the entire economy would (temporarily) be ginormo
by alva 9y ago
It is an interesting question. If the CEO of JPMorgan said publicly "We are bankrupt" as a joke, the impact on the entire economy would (temporarily) be ginormous. I presume it is illegal for a CEO of a public company to make such statements, but I am not sure. Anyone know?
- horsecaptin 9y agoContext matters though, doesn't it? - Is the CEO known to make jokes / have fun? - Is it April 1st? - Is it an official company statement? - Is it April 1st?
- gamblor956 9y agoNo, context doesn't matter. The CEO of a publicly traded company is treated by law as knowing that putatively material statements they make about their company in a public forum will be taken at face value. If they want to make a joke, they can make it in private, or they can make it about something non-material, or they can make it in a large press release which also includes a disclaimer that the whole thing is a joke.
- mkempe 9y agoOk. Maybe then we should abolish such asinine laws. If there is one thing the Romans got right it was caveat emptor.
- gamblor956 9y agoThe consequence isn't criminal, it's civil. Literally any person who traded on the basis of this tweet can potentially sue Musk for damages (depending on which side of the trade they were on), and courts have upheld liability in such circumstances.