SEC – News Stories About SEC - Page 2

Tesla Tells Judge
the SEC Scrutiny
of Musk Is
Harassment

Feb 17, 2022 5:16 PM CST

Tesla Tells Judge the SEC Scrutiny of Musk Is Harassment

Company says agency is picking on the CEO because he's critical of government

(Newser) - The latest tit-for-tat involving Elon Musk, his company, and the Securities and Exchange Commission could again test the patience of the federal judge who oversaw the 2018 settlement limiting Musk's tweets. When the SEC complained the next year that new tweets from Musk had broken the rules, US District...

SEC: Elon Musk Gave $5.7B in Tesla Shares

From Elon Musk,
a $5.7B Gift

Feb 15, 2022 8:36 AM CST

From Elon Musk, a $5.7B Gift

SEC filing indicates Musk donated 5M Tesla shares to unidentified charity or charities in November

(Newser) - Elon Musk kicked off the holiday season at the end of last year with a rather large gift: about $5.7 billion in Tesla shares, donated to an unidentified charity or charities. CNN Business reports that the comped 5,044,000 shares, presented between Nov. 19 and Nov. 29, were...

Sen. Burr's Brother-in-Law Dumped Stock After Phone Call

SEC Filing Puts
50-Second Burr
Call Under the
Microscope

Oct 29, 2021 9:41 AM CDT

SEC Filing Puts 50-Second Burr Call Under the Microscope

Agency: Senator's brother-in-law dumped stocks after conferring with Burr in early days of pandemic

(Newser) - In February 2020, Sen. Richard Burr was the head of the Senate Intelligence Committee, as well as a member of the chamber's Health, Education, Labor, and Pensions panel. He also had staffers tasked with helping out with the emerging pandemic. Those ties, and the knowledge on the coronavirus he...

New Whistleblower Supports Haugen's Facebook Claims

New Facebook Whistleblower
Supports Other's Testimony

Oct 22, 2021 3:35 PM CDT

New Facebook Whistleblower Supports Other's Testimony

Washington Post interviews former employee

(Newser) - Another former Facebook employee has told the SEC that profit and growth are more important to the company than stopping misinformation and hate speech. The allegations by a former member of Facebook's Integrity team were made in a new affidavit for the Securities and Exchange Commission, which carries penalties...

Facebook Document Suggests Only 2% of Hate Speech Is Nixed

SEC Complaints of Facebook
Whistleblower Revealed

Oct 5, 2021 9:50 AM CDT

SEC Complaints of Facebook Whistleblower Revealed

In her claim, Frances Haugen cites document that says platform removes only 2% of hate speech

(Newser) - 60 Minutes is sharing details of Facebook whistleblower Frances Haugen's complaints to the Securities and Exchange Commission, including her claim that the social network stoked political division by steering conservative-leaning users toward conspiracy theories. One of at least eight complaints, titled "Facebook misled investors and the public...

SEC Not Happy With 2 of
Elon Musk's Tweets: Report

Jun 2, 2021 3:24 AM CDT

SEC Not Happy With 2 of Elon Musk's Tweets: Report

'Wall Street Journal' reports on previously undisclosed correspondence

(Newser) - The Securities and Exchange Commission believes Tesla CEO Elon Musk has twice violated a court order requiring the company's lawyers to approve certain tweets about Tesla before he posts them, according to documents obtained by the Wall Street Journal . Regulators sent letters to Tesla in 2019 and 2020 saying...

BMW to Pay $18M Fine Over Inflated Sales Totals

Shading Sales
Figures Costs
Automaker $18M

Sep 24, 2020 5:30 PM CDT

Shading Sales Figures Costs Automaker $18M

SEC takes BMW's cooperation into account

(Newser) - BMW will pay an $18 million fine to settle allegations that it inflated its monthly US sales numbers for five straight years. The Securities and Exchange Commission said Thursday that the German luxury automaker kept a reserve of unreported sales that it drew on to meet monthly targets from 2015...

Shares Dive After a
Tweet About Kodak Loan

Aug 10, 2020 2:27 PM CDT

Shares Dive After a Tweet About Kodak Loan

SEC is said to be investigating the announcement of the $765M deal

(Newser) - A tweet Friday hit Kodak hard Monday. "Recent allegations of wrongdoing raise serious concerns," the US International Development Finance Corp. posted . "We will not proceed any further unless these allegations are cleared." It was a reference to planned $765 million government loan that would allow Kodak...

Tesla Sells Out of
'$69.420' Short Shorts

Jul 6, 2020 2:49 PM CDT

Tesla Sells Out of '$69.420' Short Shorts

Musk taunts short sellers with 'fabulous' shorts

(Newser) - After a surge in Tesla's share price, CEO Elon Musk celebrated in typically understated fashion: He taunted short-sellers by selling short shorts through Tesla's online store, apparently setting the price at the first numbers that came into his head: $69.420. CNET notes the 420 part might be...

SEC Puts Damper
on Hertz Plan to
Sell Possibly
'Worthless' Stock

Jun 18, 2020 7:43 AM CDT

SEC Puts Damper on Hertz Plan to Sell Possibly 'Worthless' Stock

Car rental company wanted to dump $500M in common stock during bankruptcy proceedings

(Newser) - After a tumultuous few months, Hertz now has another wrench thrown into its works. Unable to endure the coronavirus pandemic, the car rental company filed for bankruptcy protection last month, then noted Monday in a government filing that it planned to sell $500 million in common stock—all while warning...

New Influx of Whistleblower
Filings the 'Tip of the Iceberg'

New Influx of Whistleblower Filings the 'Tip of the Iceberg'

Lawyers say uptick in complaints due to impact of COVID-19, people working from home

(Newser) - While the coronavirus continues to wreak havoc on the economy, it's brought business to one particular group: lawyers for whistleblowers, who've been coming forward in increasing numbers since the pandemic hit. Per an SEC spokesman, the agency received 4,000 or so whistleblower complaints from the middle of...

Whistleblowers to
SEC: Facebook Is
Hiding Illegal Activity

May 27, 2020 11:05 AM CDT

Whistleblowers to SEC: Facebook Is Hiding Illegal Activity

'WaPo' describes claims, including from an ex-Facebook moderator, on drug, child porn sales

(Newser) - A whistleblower complaint filed with the SEC claims Facebook has failed to adequately police illegal activity on its platform, including sales of drugs and child pornography. The complaint filed Tuesday by critics, including a former Facebook content moderator, further claims Facebook has hidden the extent of illegal activity from its...

Wells Fargo
Will Pay US
$3B to Settle
List of Abuses

Feb 21, 2020 4:30 PM CST

Wells Fargo Will Pay US $3B to Settle List of Abuses

Accounts were opened without customers' consent

(Newser) - Wells Fargo agreed Friday to pay the government $3 billion to settle investigations into a series of abuses that went on for years, including opening accounts for customers without their approval. The deal wraps up federal civil and criminal cases, the Wall Street Journal reports, though criminal charges could be...

Boeing 737 Max Could
Be Back in the Sky
Come January

Oct 9, 2019 11:16 AM CDT

Boeing 737 Max Could Be Back in the Sky Come January

Per a new American Airlines filing with the SEC

(Newser) - All Boeing 737 Max aircraft were grounded after two crashes involving the jets over the past year killed a total of 346 people. But come January, the planes will likely be in the air again. American Airlines announced in a Securities and Exchange Commission filing on Wednesday that two software...

SEC Is Going After
VW's 'Ill-Gotten Gains'

Mar 15, 2019 5:33 AM CDT

SEC Is Going After VW's 'Ill-Gotten Gains'

Car maker says it will 'vigorously' defend itself

(Newser) - The SEC is going after Volkswagen. At issue: upwards of $13 billion in bonds and asset-backed securities issued here between April 2014 to May 2015—a period when, the SEC's lawsuit alleges, Volkswagen's upper echelons were well aware that its 500,000 diesel vehicles in the US were...

Elon Musk
in Hot Water
Yet Again
Over a Tweet

Feb 26, 2019 1:33 AM CST

Elon Musk in Hot Water Yet Again Over a Tweet

SEC wants Tesla CEO held in contempt

(Newser) - Tesla CEO Elon Musk's tweeting habits have triggered another legal challenge from stock market regulators worried about him using his Twitter account to mislead investors, the AP reports. The latest dust-up emerged late Monday when the Securities and Exchange Commission asked a federal court in New York to hold...

Defiant
Elon Musk
Mocks SEC
on Twitter

Oct 5, 2018 3:36 AM CDT

Defiant Elon Musk Mocks SEC on Twitter

He calls them the 'Shortseller Enrichment Commission'

(Newser) - Elon Musk is a man of many talents, but knowing when to stop tweeting apparently isn't one of them. The Tesla CEO, who has agreed to pay $20 million and step down as chairman to settle a lawsuit brought by the Securities and Exchange Commission over a "false...

Musk's New Fight Poses Huge
Risk to Tesla—and Himself

the rundown

Sep 28, 2018 11:11 AM CDT

Musk's New Fight Poses Huge Risk to Tesla—and Himself

SEC complaint is 'road map to criminal charges,' says one biz journalist

(Newser) - The SEC's decision to sue Elon Musk and seek his ouster as chairman of Tesla came after Musk pulled out of settlement talks at the last minute, reports CNBC . Under the deal, Musk would have paid a fine but admitted no wrongdoing in regard to his infamous tweet in...

Musk's Tweet
Gets Tesla an
SEC Subpoena,
Sources Say

Aug 15, 2018 2:29 PM CDT

Musk's Tweet Gets Tesla an SEC Subpoena, Sources Say

Sources tell Fox, New York Times the SEC has opened a formal investigation

(Newser) - There were rumblings that the SEC wanted to talk to Elon Musk about his tweet saying he was considering taking Tesla private and had "funding secured." Now, sources tell Fox Business Network , the San Francisco office of the SEC has indeed subpoenaed Tesla and the investigation is a...

So What's
Going On
With Tesla,
Elon Musk?

the rundown

Aug 14, 2018 11:40 AM CDT

So What's Going On With Tesla, Elon Musk?

The SEC wants to know, and rapper Azealia Banks has some theories

(Newser) - It sure has been an interesting week for Tesla CEO Elon Musk, and things might get worse before they get better. The controversy began last Tuesday when Musk startled his own company board by announcing that he might take Tesla private and, in fact, had "funding secured." Now...