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James D. Rosener Quoted in Business Insider Article, 'Elon Musk Is in Perilous Territory After Tweeting About Wanting to Take Tesla Private, Experts Say'

8/09/2018
James D. Rosener Quoted in Business Insider Article, 'Elon Musk Is in Perilous Territory After Tweeting About Wanting to Take Tesla Private, Experts Say'

James D. Rosener, a partner in the Commercial Department of Pepper Hamilton, was quoted in the August 8, 2018 Business Insider article, "Elon Musk Is in Perilous Territory After Tweeting About Wanting to Take Tesla Private, Experts Say."

James Rosener, a partner at the law firm Pepper Hamilton, said Twitter was not the right medium for a securities disclosure since the platform's 280-character limit prevented Musk from disclosing enough information relevant to investors — including the structure of the deal, its tax impact, and the amount of debt it would require — to ensure he's not misleading them. According to Rosener, Musk's tweet likely ran afoul of the SEC's anti-fraud rules.

"There's definitely material omissions," he said. "Clearly, it was not what any lawyer with any experience in this kind of stuff would advise to put out."

The quote was also printed in the following Business Insider articles:

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