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Why? He's a huge liability to the company every day he remains with this hanging over his head. The SEC directly says he "violated, and unless restrained and en
by jonknee 8y ago
Why? He's a huge liability to the company every day he remains with this hanging over his head. The SEC directly says he "violated, and unless restrained and enjoined will continue to violate, Section 10(b) of the Exchange Act". Other than a fine, they're pushing for him to be barred from serving as an officer of a public company.
- kire2345 8y agoCould Tesla move to another country and get listed there instead, so he could stay CEO?
- jonknee 8y agoNot without facing a huge number of lawsuits. If your business plan requires being led by someone the SEC has banned you need a new business plan.
- dabockster 8y agoThe only countries I could see Tesla moving to, if this plan is followed, are China, Russia, and North Korea. Obviously lawsuits would be the least of their problems if this occurred.
- anticensor 8y agoTRNC, San Marino, Svalbard, Transnistria, Monaco too.
- sokoloff 8y agoEvery fund that tracks the Nasdaq 100 (which includes $TSLA) would sell out of $TSLA when it was de-listed from Nasdaq (and therefore form the Nasdaq 100). There's less financial wreckage created from replacing the CEO, IMO.
- jczhang 8y agoBecause this is simply how SEC politics work. It rarely goes that far, and it's like 99% a fine. They don't actually have That much power beyond that.
- jonknee 8y agoWell it also rarely goes to filing a lawsuit against the CEO... So I guess who knows, but if I was on the board I'd be reading the D&O insurance policy quite closely.
- dayaz36 8y agoThe SEC is not the judge. They can say whatever they want but they have to prove it in court.