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Tesla’s slow disclosure raises governance, social media concerns

“SEC guidelines published in 2013 allow companies and their executives to use social media to distribute material information, provided investors have been alerted that this is a possibility” writes Midwest Communications Inc for 95kqds.com. “Musk’s irreverence and showmanship is part of the Tesla brand, I get that, but I don’t think the securities laws do,” said Fallon.Musk stunned investors last Tuesday by announcing on Twitter that he was considering taking Tesla private in a potential $72 billion transaction and that “funding” had been “secured.”.  Source: 95kqds.com Share This:

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Russia says will ditch U.S. securities amid sanctions: RIA

“MOSCOW (Reuters) – Russia will further decrease its holdings of U.S. securities in response to new sanctions against Moscow but has no plans to shut down U.S. companies in Russia, Finance Minister Anton Siluanov said on state TV on Sunday, RIA news agency reported” writes Midwest Communications Inc for 95kqds.com. Russia has ditched its holdings of U.S. Treasuries in the past few months as relations between Moscow and Washington have deteriorated, data showed last month. Source: 95kqds.com Share This:

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Elon Musk and carmaker sued over ‘funding secured’ tweet

“According to his complaint, Isaacs bought 3,000 Tesla shares on 8 August to cover his short position” reports theguardian.com. Musk’s tweets on 7 August helped push Tesla’s stock price more than 13% above the prior day’s close.The lawsuits filed by Isaacs and William Chamberlain said Musk’s and Tesla’s conduct artificially inflated Tesla’s stock price and violated federal securities laws.Musk has not offered evidence that he has lined up the necessary funding to take Tesla private, and the complaints did not offer proof to the contrary. Source: theguardian.com Share This:

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Lawsuits accuse Tesla’s Musk of fraud over tweets, going-private proposal

“The lawsuits filed by Isaacs and William Chamberlain said Musk’s and Tesla’s conduct artificially inflated Tesla’s stock price and violated federal securities laws” writes unknown author for cnbc.com. Musk’s Aug. 7 tweets helped push Tesla’s stock price more than 13 percent above the prior day’s close.According to his complaint, Isaacs bought 3,000 Tesla shares on Aug. 8 to cover his short position. Source: cnbc.com Share This:

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The GOP congressman accused of insider trading is still going to run for re-election

“Fox News The GOP congressman accused of insider trading has vowed to stand for re-election in November, despite the allegations against him” writes Bill Bostock for businessinsider.com. The allegations against Collins relate to his position on the board of Innate Immunotherapeutics, an Australian pharmaceutical company.Chris Collins, who represents the 27th district of New York, was arrested by the FBI on Wednesday and charged with securities fraud, including an allegation that he made an insider trade from a picnic held at the White House. Source: businessinsider.com Share This:

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Prosecutors say GOP congressman charged with securities fraud committed insider trading while he was at a White House picnic

“Chris Collins of New York with securities fraud accuses him of committing insider trading at the 2017 annual White House congressional picnic” writes Grace Panetta for businessinsider.com. The indictment estimates Cameron’s alleged insider trading with his father from that tip alone saved him approximately $570,900 in losses.Federal prosecutors accuse co-defendants Cameron and his fiancée’s father, Stephen Zarsky ,of trading Innate stocks based on the nonpublic information.Chris Collins of New York was charged with securities fraud by the FBI on Wednesday Chip Somodevilla/Getty Images The federal grand jury indictment charging GOP…

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U.S. Rep. Christopher Collins indicted on securities fraud charges

“The indictment charges Collins and two others, including the congressman’s son, with conspiracy, wire fraud and other counts” writes Associated Press for sun-sentinel.com. Christopher Collins of New York has been indicted on charges that he used inside information about a biotechnology company to make illicit stock trades.Prosecutors say the charges relate to a scheme to gain insider information about a biotechnology company headquartered in Sydney, Australia, with offices in Auckland, New Zealand. According to the indictment, the defendants tried to get early word on the results of tests by Innate…

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SpaceX and Tesla CEO Elon Musk announced Tuesday afternoon that he is considering taking Tesla private at $420 per share.

“Even though he wants to take Tesla out of the stock market, Musk hopes that shareholders will remain invested in the company and for all Tesla employees to remain shareholders” reports washingtonexaminer.com. Musk says his intention in considering privatizing the company does not have to do with him wanting to gain more control of Tesla.To buy out the company from shareholders at $420 per share, Musk would have to spend roughly $85 billion, .Immediately after his tweet, stock prices surged for Tesla, reaching almost $370 per share before trading for…

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Elon Musk’s latest Twitter antics have Tesla hurtling into uncharted territory — and could have legal ramifications for the CEO

“With Musk’s tweet, Tesla was plunged into unprecedented market territory” writes Joe Ciolli for businessinsider.com. ET, telling his 22.3 million followers that he had a funding in place to take his company private at $420 — a roughly 20% premium to the stock’s Monday closing price.Never before has the CEO of a company so massive and widely-followed disclosed something so sensitive on a social media platform like Twitter. Source: businessinsider.com Share This:

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Probe of Exxon’s climate-change investor disclosures dropped by SEC

“Securities regulators have dropped an investigation into whether Exxon Mobil Corp. misled investors about the risks that climate change and greenhouse-gas regulations posed to its business” writes Dave Michaels for marketwatch.com. The Securities and Exchange Commission informed Exxon XOM, +0.36% that it closed the probe — and decided against trying to penalize the energy giant over its disclosures and how it accounted for oil and gas assets, according to a letter reviewed by the Wall Street Journal.Exxon in a statement confirmed the probe had ended, saying it began in January…

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