Welcome to Ad Age’s Wake-Up Call, our daily roundup of advertising, promotion, media and electronic information. You can find an audio version of this briefing on your Alexa device. Look for”Ad Age” below”Skills” from the Alexa app. What folks are talking Elon Musk’s Twitter habit might be his undoing. Following the Tesla CEO tweeted that he had”funding secured” to accept Tesla confidential, the U.S. Securities and Exchange Commission accused him of fraud and making false statements that could hurt investors. As The New York Times writes,” the lawsuit filed in federal court in Manhattan additionally attempts to prevent Musk from serving as an executive or manager at a publicly traded firm. And he could be taken out from Tesla. The Times writes:
“Such a punishment is one of the most serious remedies the S.E.C. can impose against a corporate executive. The case is likely to send shock waves across corporate America and could lead to a re-evaluation of how companies use Twitter to communicate with the investing public.”
Musk said the suit was unjustified and he has always”taken action in the best interests of truth, transparency and investors.” His remarks were distributed the manner –not from his Twitter accounts, but through a statement by his firm.
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