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Coming off of the recent SEC case against Elon Musk, does anyone know how they look at leaks from public companies, especially high impact ones like this? Are t
by cpitman 8y ago
Coming off of the recent SEC case against Elon Musk, does anyone know how they look at leaks from public companies, especially high impact ones like this? Are there any examples of SEC action in the past?
- JumpCrisscross 8y agoThe SEC allows companies to make corporate announcements through social media. Tweets of a public company’s CEO are thus corporate announcements. Leaks are reported on by third parties, and thus don’t fall under the same rules. The leaker might get in trouble for Reg FD violations, or for violating an NDA, but given the reduced risk of damage (particularly when the leaked information is not fabricated), it’s been a low enforcement priority.
- aetherson 8y agoI don't think that there's any kind of SEC impact to memos that talk about strategy and product goals. It's different if you offer material previously non-public finding info, as Musk did.