Jay A. Dubow Quoted in CNN Article, 'Elon Musk Mocks SEC Amid Settlement Deal'
Jay A. Dubow, a partner with Pepper Hamilton, a member of the firm’s White Collar Litigation and Investigations Practice Group and a co-chair of the Securities and Financial Services Enforcement Group, was quoted in the October 4, 2018 CNN article, " Elon Musk Mocks SEC Amid Settlement Deal."
That arrangement is unusual, says Jay Dubow, a partner at Pepper Hamilton and a former branch chief with the SEC's enforcement division. Typically, executives aren't allowed to stay on as chief executive when they're forced to exit the chairman role. But Dubow said he would be surprised if the judge ultimately rejected the proposed settlement.
"I think it's the judge being careful," he said. "It's a high-profile case."
The SEC and Musk will probably argue that removing Musk as CEO could further harm the company's stock, and thus hurt shareholders, he said.
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