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I'm not sure the SEC would obviously have jurisdiction, since neither Twitter nor xAI were public companies. The FTC might care about such a merger, however, a
by Majromax 2y ago
I'm not sure the SEC would obviously have jurisdiction, since neither Twitter nor xAI were public companies. The FTC might care about such a merger, however, and I suppose minority investors in xAI would have some ability to file a lawsuit if they think that X was acquired over its fair value.
- fallingknife 2y agoXai and Twitter are not in any way competitors. What would the FTC do?
- willy_k 2y ago[flagged]
- propter_hoc 2y agoThis is a very mistaken impression, the SEC certainly is the regulator with jurisdiction over private share trades. The onus for reporting is just much higher for public companies. As a high-profile example, the SEC sued Theranos, a private company with only accredited investors, for making misrepresentations to their investors. https://www.sec.gov/newsroom/press-releases/2018-41 https://www.sec.gov/newsroom/press-releases/2018-41
- dragonwriter 2y ago> I'm not sure the SEC would obviously have jurisdiction, since neither Twitter nor xAI were public companies. The Securities and Exchange Commission deals with private securities, and also with public securities exchanges and the firms listed on them. Public firms have more oversight from the SEC, but private securities are not outside of their purview.