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Comment by baybal2 | Hacker News Reader

>SEC rules for potentially market-moving statements. Harvey Pitt, a former SEC chairman, told CNBC on Tuesday that Musk’s tweets “might consittute fraud if any of the facts he disclosed are not true”

Have anybody given weight that even an SEC chairman can't give a yes or no answer on application of US securities law, but uses word "might"

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No, because I'm familiar enough with law in general to know that not doing so without a complete picture of the facts is almost always an oversimplification.

All this tells me is that Pitt is being appropriately careful.

The SEC chairman likely doesn't do the actual legal work in bringing cases to court. Would you expect Jeff Bezos to know how to navigate his warehouses and ship packages out?

I'd bet a lot of money that Bezos could do actually do that. And if the SEC chairman doesn't know the law, why is the news asking him?

I would imagine an act is not a crime till it is investigated by investigators or tried in court. Everything you hear now a days is "allegedly" because no one wants to be definitive and then get sued for libel in the chance they are wrong.

Perfect example. Nicholas Cruz ..just googling and picking an article.

"Cruz is accused of gunning down students and teachers in various classrooms at the school in Parkland on February 14, in one of the deadliest mass shootings in modern US history."

Why is he accused? We all know he did it. Why not say "Cruz gunned down..."? This is after he confessed to it, after security footage was reviewed.

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