Tesla’s Board Backs Musk After SEC Sues, Seeks His Ouster

The SEC has accused Elon Musk of misleading investors with his 'go private' tweet, and is seeking to bar him from serving as an officer or director of a public company. Tesla's board supports Musk, but Bloomberg's Alex Webb suggests Musk may need to relinquish one of his roles at Tesla due to oversight failures. The board's close ties to Musk raise concerns about cronyism and lack of independent oversight.

What action is the SEC seeking against Elon Musk following his tweet about taking Tesla private?

• To fine him heavily

• To bar him from serving as an officer or director of a public company

• To make him apologize publicly

• To force him to sell his Tesla shares

What is one potential outcome for Elon Musk discussed by Alex Webb?

• He might be promoted to a higher position

• He could lose one of his roles at Tesla

• He will be given more responsibilities

• He will retire from Tesla

What is a significant issue at Tesla due to Musk holding both CEO and Chairman positions?

• Better public relations

• Improved employee morale

• Lack of oversight

• Increased company profits

What concern is raised about Tesla's board in relation to Elon Musk?

• They are too focused on profits

• They are too close to Musk

• They are too independent

• They are too inexperienced

What term is used to describe the close relationship between Tesla's board members and Elon Musk?

• Nepotism

• Patronage

• Favoritism

• Cronyism