More information has now emerged on Mr. Musk’s tweet since our last post. After reviewing Regulation FD and Rule 10b-5, we had concluded that Mr. Musk’s should be fine as long as the funding was truly secured, meaning that there was a signed (i.e. irrevocable) financing commitment to back the statement “funding secured”. While […]
Legal
Did Elon Musk breach U.S. Securities Laws?
Did Elon Musk breach Regulation FD or Rule 10b-5 by tweeting that he was “considering” taking Tesla private during market hours? Mr. Musk stunned the markets and caused a 10% surge in Tesla’s stock price (and a trading halt) when he announced that he was considering taking Tesla private, meaning delisting Tesla from the Nasdaq […]
How to deal with delays, cancelled flights and compensation
August tends to be the month where everybody goes on vacation. From experience, this tends to be especially true for investment bankers, traders, and lawyers because financial markets are a bit slower. Or more accurately, financial markets are slower because nobody is at the trading desks. With a historically low pound and an incredibly warm […]