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SEC has no mandate (nor should it be interested in) enforcing rules created by Twitter board. SEC enforces laws created by congress. "Poison pill" is not a la
by kjksf 5y ago
SEC has no mandate (nor should it be interested in) enforcing rules created by Twitter board.
SEC enforces laws created by congress.
"Poison pill" is not a law. It's a rule created by Twitter board.
It merely says "if this happens, we'll do that".
If anything, SEC should be looking into Twitter's board authority to sell stock at half price, which clearly harms shareholders.
And one of the things SEC is supposed to do is to protect shareholders from harm, even if the harm comes from inside the house.