The SEC sued Elon Musk, alleging he committed securities fraud and hurt Tesla investors by making false or reckless public statements that had a material impact on the stock—specifically, for the way he unveiled his possible plan to take Tesla private on Aug. 7, via Twitter, saying he had “secured” funding for a deal. The agency’s case seems strong on its face, though Mr. Musk said in a...
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After Tough Year, SPACs Tempt Bird, Lime
Dogged by questions of financial viability and then a pandemic that crippled demand for scooter rentals, Bird and Lime are taking steps to repair the damage. Bird is finalizing a deal to raise more than $100 million in convertible debt, led by existing investors Sequoia Capital and Valor Equity Partners, people familiar with the matter said. The financing comes after the scooter operator had...
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