Democaratic Sen. Elizabeth Warren of Massachusetts is asking the U.S. Securities and Exchange Commission to launch an investigation regarding Tesla.
“Since Elon Musk took over Twitter, I’m concerned @Tesla’s board has failed to manage conflicts of interest from his role as CEO of Tesla & Twitter. Tesla’s board has a legal obligation to serve its shareholders. I’m urging @SECGov to investigate,” Warren tweeted.
Warren had adamantly opposed Musk’s acquisition of Twitter.
“This deal is dangerous for our democracy. Billionaires like Elon Musk play by a different set of rules than everyone else, accumulating power for their own gain. We need a wealth tax and strong rules to hold Big Tech accountable,” she tweeted last year.
In December, Warren sent a letter to Tesla board chair Dr. Robyn Denholm regarding Musk’s Twitter acquisiton and the impact on Tesla.
“Mr. Musk’s acquisition of Twitter and his simultaneous management of both Twitter and Tesla raise significant legal questions about conflicts of interest, compliance with labor laws, and misappropriation of corporate resources,” Warren wrote in that letter. “I am writing you so that I can better understand how you are dealing with these challenging circumstances so that I can evaluate current laws and current law enforcement in this area.”
Musk has said that America has “been harmed” by having Warren serving in the Senate.
“The United States has definitely been harmed by having her as a senator lol,” Musk tweeted.
He has also referred to her as “Senator Karen.”
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