> so long as investors have been alerted about which social media will be used to disseminate such information.
and if the stock has been halted for news before you post on twitter.
At the very least he violated the later making this a moot point.
I can't speak to if Elon's personal twitter account can be used for official Tesla news but it seems pretty suspect.
They have been:
> Item 8.01. Other Events.
> Tesla Disclosure Channels To Disseminate Information
> For additional information, please follow Elon Musk’s and Tesla’s Twitter accounts: twitter.com/elonmusk and twitter.com/TeslaMotors
from the BBC piece here:
> Regulation FD requires companies to distribute material information in a manner reasonably designed to get that information out to the general public broadly and non-exclusively. It is intended to ensure that all investors have the ability to gain access to material information at the same time.
Sounds like Twitter is the perfect mechanism to achieve this in a fair manner.
> The report of investigation explains that although every case must be evaluated on its own facts, disclosure of material, nonpublic information on the personal social media site of an individual corporate officer — without advance notice to investors that the site may be used for this purpose — is unlikely to qualify as an acceptable method of disclosure under the securities laws
So the question is did Elon/Tesla ever put investors on notice that material statements could be made through his Twitter account?
Since it seems like he’s done this regularly in the past. There was even an institution investor that joked about Elon’s “Return on Tweet” and many articles written about Musk’s Twitter habit. I couldn’t say if a long past history of breaking news on Twitter is enough to have put investors on notice that material statements could come through that channel.
> Sounds like Twitter is the perfect mechanism to achieve this in a fair manner.
What about investors that were blocked by Elon on Twitter?
Agreed on the halt.