SEC to Sue Tesla CEO Elon Musk, Why Is It Important For Cryptoworld

By Paul Hackley

Fri, 28/09/2018 - 12:08

SEC filed a lawsuit against Tesla CEO Elon Musk for fraud. Immediately after that, the Commission held a press conference, disclosing the details of the case

SEC to Sue Tesla CEO Elon Musk, Why Is It Important For Cryptoworld

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On Thursday, Sept. 27, SEC filed a lawsuit against Tesla CEO Elon Musk for fraud. Immediately after that, the Commission held a press conference, disclosing the details of the case.

According to a SEC complaint, Musk issued “false and misleading” statements when he tweeted, “am considering taking Tesla private at $420. Funding secured" on Aug. 7. SEC wants to have Musk barred from serving as an officer or director of a public company.

Recently, SEC attorney Owen Donley spoke about the similarities of cryptocurrencies and cannabis stocks, pointing out that both of the industries are overwhelmingly fraudulent.