After the SEC sued Elon Musk for securities fraud and sought his removal from Tesla, Inc. many investors were nervous about the company's future without the founder at the helm. As RK&O founding partner Lee S. Richards III told CNN Business, the SEC lawsuit brings a lot of uncertainty both for the company and Musk.
Mr. Richards notes that the SEC's civil complaint made a pretty straightforward case that Musk violated securities law and even if Musk is found guilty, he can look to argue that he sent the tweets without much forethought. That could help him get a leaner punishment, and potentially avoid a ban on corporate leadership or lessen it to a few years, said Mr. Richards.
"What would happen to Tesla without Elon Musk at the helm?" - CNN Business