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Disha Patani’s birthday wishes include action, food, and lots of love from Tiger Shroff

Disha Patani celebrates her birthday today. She has entered the 30s. The Malang actress is getting a lot of love from celebs and fans. Her rumoured boyfriend, Tiger Shroff took to Instagram to wish her. His wish is all about action, food and lots of love. – Disha Patani birthday: Tiger Shroff’s special wish for the Malang actress is all about action, food and lots of love

Disha Patani celebrates her birthday today. She turns 30 today. She is getting a lot of love from celebrities and fans alike. Tiger Shroff, her rumoured boyfriend, wished her on Instagram. He wished her action, food, and lots of love.

Sharing a video of Disha which also featured him, he wrote, “Hope you fly even higher this year happy birthday action hero! Eat yummyyy food today and kill ittt @dishapatani.” It had fire, heart and hug emojis. The video is on Tiger’s Instagram Stories.

source – Instagram

While Tiger and Disha haven’t confirmed their rumoured relationship, they have been spotted together several times. Their relationship rumours have been doing the rounds since many years now

In a past interview with BollywoodLife, Malang actors Aditya Roy Kapur and Disha were asked Google’s most searched questions on them. One of the questions that came up was whether Disha is dating Tiger. To this, Disha said, “I wish. I have been trying my luck for many years. Of course, it’s not working out.” Aditya asked if Tiger is playing hard to get, and Disha replied, “Yeah. Give me some tips.”

When Disha’s film Bharat was about to release, Disha had said about Tiger, “He is too slow motion, man. I’m been trying to impress him and I keep telling him that. I have learnt gymnastics and I’ve done a film where I’m taking a flip through a fire ring. He’s still not impressed. What more can I do?”

Well, it seems they are deliberately not accepting it.

Source – https://www.bollywoodlife.com/

Neeraj Mishra from Octave Entertainment talks about international “Rewind Music Tour” starting Next week.

Octave Entertainment is an Artist & Talent Management company initiated in the year 2003 by Neeraj Mishra. Neeraj Mishra is the Founder & Director of Octave Entertainment.

He began his entertainment career as an Assistant & Production executive. Later on he realised his strength that he is very good in management then he started his career as a Celebrity Manager in 1999 and todays he is one of the most prominent and successful people within the Industry.

Octave Entertainment is coming up with multiple projects but amongst them the few most talked about shows is their project “REWIND”. This show earlier performed in 2019, which had a total of 15 shows and was done in South Africa, Dubai, USA, Canada. The latest Rewind project was in Australia couple of months back and both shows were completely sold out making it a huge success .

The Show now will commence from 17th June 2022 in USA, Canada having one of the best feedback and responses. All the Legendary Artists like Kumar Sanu, Alka, Udit Narayan with 35 singers will perform on the best-to-best songs of the 90′ s , Indians and NRI’s even foreigners are crazy about the Bollywood evergreen songs which we have witnessed in the past making the earlier shows super successful all over the cities so far, Neeraj Mishra’s Octave Entertainment is managing Alka, Kumar Sanu. This show’s preparation has already from 2020 facing many difficulties due to covid but finally is now on 17th June 2022.

On Speaking with Neeraj Mishra he says he is very excited about the show , he hopes like always this time also they will get good response. He says they will also be performing 3 shows in London, UK as well .

With their Rewind project one more show will be shortly announced with Iconic Javed Aktar in which he will be releasing his song “Kahi mai aisa geet gaun” . where in he will not only perform in this song but will also share his experience. Talking about the future plannings Neeraj also adds about his plans of a project with the Celebrity Govinda, Madhuri Dixit, Anil Kapoor, and Ravina Tandan show’s name is “ICONIC 2”. Which they are planning to start on 6th Sept 2022..

Synergy Business League – An Opportunity to Network and Grow, Launched In Mumbai

Synergy Business league like other networking platforms works on giving referrals and entrepreneurs from different backgrounds associate with each other for networking and help their group members in growing their business.

However on speaking with the founder Mr Allwyn Prabhakar who is the brain behind creating this networking platform he says SBL is different from the other Networking platform as it not only helps in growing self-business but also to be a part of their group members profits by referring them business. Mr Allwyn with his appointed Management Team, have launched SBL on 04th June 2022 in a 4 star hotel in Mumbai by explaining the concept and introducing his management team and says since then he has received tremendous response and requests in the form of showing interests from various first and second generation Entrepreneurs.

SBL Management team includes various experienced people from different walks of life and few of them were even associated at senior positions with other Networking platforms building the roots of SBL.   Management team were also present in the Launch event who were Mrs Mansi Thakkar –(SBL President) , Dr Shweta Iyengar (Business Development Director) , Mr Viral Kothari (Business Development Director) , Dr Sharda Badgujar (Business Development Director), Mr Sudhir Ramani (League Captain). On Speaking with few , the highlights of the conversation were as follows , SBL not only gives a platform for entrepreneurs to network and grow their business many folds but they also upgrade them with training and provide an atmosphere for work , pleasure and network and also give them an opportunity to be a partner of multiple business and earn more profits. To know more about SBL you can log into their social media handles https://www.facebook.com/SYNERGYBUSINESSLEAGUE which will give first hand information about their vision and development.

Nelson Mandela Noble Prestigious peace award powered by Monetas to be held on 11th June 2022 in Jammu

Nelson Mandela Nobel peace award is a non-organization which helps to recognise those who have given their life to social, medical ,business, science, education and various fields and also to those people who has given a contribution towards the society and build up their power towards the people.

Their constant humble and great effort is to felicitate them for their effortless contribution and recognizing them with this Nobel peace award this Noble work will give them and other’s inspiration to work more towards the society and encourage the youth generation with their Nobel work so that every one can be responsible towards the development of the society.

Nelson Mandela Noble Prestigious peace award

The award ceremony encourages the youth generation to take this as a challenge so that in the coming years they can celebrate the victory and contribution towards society and facilitate them with Nelson Mandela Nobel peace award.

This time Nelson Mandela Nobel Prestigious peace award powered by Monetas www.monetasglobal.com and in association with Maharaja Hari Singh Award foundation will be held on 11th June 2022 in Hari Niwas Palace -Jammu.

The Honorable chief Guests who will be a part of this prestigious award ceremony are-amid sources are:-

Hon. His Highness Sheikh Majid Rashid Al Mualla (United Arab Emirates)

Hon . Dr Ramdas Athawale (Minister of Social Justice and Empowerment)

Hon. Gen Dr Vijay Kumar Singh(Retd) (Union Minister of State)

Hon MAJ.GEN Goverdhan Singh Jamwal

Hon Mr Anil Vij (Home Minister of Haryana)

Hon Sh.Dilbag Singh-IPS DGP J&K

Hon. Capt Bana Singh Recipient of Param Veer Chakra

Mr Giridhar Lal Batra

Mrs Kamal Kanta Batra

Dr Sandhya Gupta (Founder Chairman of Maharaja Hari Singh Foundation)

Dr Gulshan Grover (Film Producer and Actor)

Hon Mrs Bhagyashree (Indian Actress)

Nelson Mandela Nobel peace award is always known for its kind of felicitation to various individuals , company owners from different backgrounds it helps to recognise those who have given their life to social, medical ,business, science, education and various fields.

Their past Events and felicitation programs were remarkable and elegant , they have always depicted and felicitated those who have remarkably contributed in the upliftment and growth.

On Speaking with their Chairman Dr Rajkumar Tak he adds to say that its their constant humble and great effort to felicitate those who have given their effortless contribution And recognizing them with this Nobel peace award as it will give other’s inspiration to work more towards the society and encourage the youth generation with their Nobel work so that every one can be responsible towards the development of the society.

It is a distinguished event that will have the best from every sector to acknowledge and honour. The much awaited Nelson Mandela Nobel peace award will have varieties that you have never seen before. It is going to be a spectacular event where people can connect and contribute towards themselves as well as the society; knowing every bit of each sector place to maintain the balance. Thus, it makes the importance of various professions to participate.

On speaking to few nominations and aspirants all seem to be geared up for the awards.

Punjabi singer and Congress leader Sidhu Moose Wala was shot dead

Sidhu Moose Wala, a popular Punjabi singer and rapper who had joined the Congress before the Punjab election, was gunned down.

sidhu moose wala

Moose Wala ran for the Mansa Assembly seat on a Congress ticket. AAP’s Dr Vijay Singla defeated him by 63,323 votes. Moose Wala, who hails from Moosa in Mansa district, joined the Congress amid much fanfare in November last year. After the Congress gave him a ticket from Mansa Assembly constituency, sitting Mansa MLA Nazar Singh Manshahia revolted against the party, saying he would oppose the singer’s candidacy.

Subhayu Chakrabortii embarks on his directorial debut with Naira in Bollywood 

Director Subhayu Chakrabortii, has embarked on his directorial debut in Bollywood with the movie Naira, a female-centric revenge drama.

From Kolkata to living in Mumbai Subhayu has been associated with the video and movie industry for more than ten years now. His motivation to work as a director comes from his very nature to connect with people and create a difference in society through his work. Subhayu is quite a dedicated professional who loves his work and believes in learning from his past mistakes.

Subhayu Chakrabortii

According to Subhayu casting is indeed an important part of a movie. He described casting as the body of the movie when the script of the movie is considered the soul. The actors and the actresses need to be apt to play the role in the movie. Half the battle is won when this balance is achieved. He has also given the opinion that the rise in the digital age will see a revolution in the OTT platform and new faces in the movie industry will help filmmakers too.

 In the industry since 2016, Subhayu is all set to direct Naira, who is a middle-class Indian girl looking for revenge for her husband. The casting of the movie is almost complete but the names are not yet revealed. All we know is that multilingual actor Kabir Duhan Singh has a very important and aggressive role of a druggie come peddler. The screenplay is written by Ajay Monga who had written “Fashion”, “Corporate” and Vijay Trivedi is the  Executive Producer. The movie is under the banner of Dev Motion Pictures.

 Inspired by legends in the film-making industry such as Christopher Nolan and James Cameron, Subhayu says that filmmaking is not a laborious job, rather it is a creative one. When asked how is it that he is so motivated, he simply said that as an artist, it gives him immense pleasure and joy when he sees that the art that he had visioned in his mind is taking shape in front of him. This is the true reason behind his motivation as a director.

Subhayu Chakrabortii has a gift of creative genius and technical knowledge. When this is paired with his unique love for content-oriented dark movies, it makes him a perfect match for directing Naira. 

Maharashtra Societies Welfare Association teams up with IIE Awards to be conducted on 02nd June 2022 at  Rajbhavan

IIE Awards which happens to be the most prestigious awards is scheduled on 02nd June 2022 at Raj Bhawan. On speaking with a spokes person of Minority BJP Andheri Vidhan Sabha Adhyaksha and Registered NGO Sabh Ka Vikas Sanstha they said the IIE awards has now teamed up with Maharashtra Societies Welfare Association for this Event Which will also include inauguration of “Compendium of Self Re-Development for Co-operative housing Societies Vol (II) by a special Chief Guest , the earlier edition was inaugurated by our honorable Chief Minister Shri Uddhav Thackrey.

Maharashtra Societies Welfare association is an Registered association of close to 35000 Societies which has now teamed up with Red Ant for this Event.    

IIE Awards

Let’s know about first the event “Indian Industry Excellence Award”, IIE Awards is an initiative which also Includes “Sabh Ka Vikas” a registered NGO which works on the show path of our Honourable Prime Ministers noble words “Sabh ka Sath and Sabh Ka Vikas”  and Maharashtra Societies Welfare Association Few leading and reputed PR companies . It is a distinguished event that will have the best from every sector to acknowledge and honour. The much awaited IIE will have varieties that you have never seen before. IIIE is going to be a spectacular event where people can connect and contribute towards themselves as well as the society; knowing every bit of each sector place to maintain the balance. Thus, it makes the importance of various professions.

There are approx 50+ Finalists  who are nominated for “Indian Industry Excellence Award 2022”, and 25 + Television and Bollywood Celebrities few of their names and categories are mentioned below :

CA Ramesh Prabhu -Chairman -Maharashtra Societies Welfare Association 

Gopal Shetty -Active Member of Parliament 

Ajoy Mehta -Commissioner Maha Rera 

Gautam Chaterjee  -Former Commissioner Maha Rera

Sunil Sharma -Senior Journalist and Spokes Person MahaSeWa

Adv Ameet Mehta -Senior Advocate High Court 

Adv. Gauri Bhave – IP assist of IPR Attorney for intellectual property rights

Supreet Bajaj – Founder director of Purplelofts for interior designer and architect

Behroze Dastoor Sehgal – Founder Kismet-The Tarot Bay.Most promising tarot reader.

Shweta Tatooskar – She is the founder of label Shweta Tatooskar-The Design Story.Nominated for most Promising Fashion Designer

Pallavi Gupta – Co- founder of Dev Motions Pvt Ltd.Nominated for Most promising Entrepreneur/Producer.

Ekta Sanghvi- Director of Lighting Concepts Pvt Ltd ,nominated for Lightingale of India 

Praveen Shukla – Advisor, Business Coach and Mentor for most promising advisor, business coach and mentor in Maharashtra.

Prayag Khose- Managing Director of BK Khose Group & Companies for most promising young entrepreneur.

Nidhi Srivastava- Realty Services for most promising women entrepreneur in reality services

Ar. Siddhina Sakla – Architect of the Arch Studio  for most promising architect

ID.Vicky Jumrani- VJ Design Studio for Modern luxury Architect & Interiors of West Bengal

Ar. Aniruddh Deshpande – Shubhlaxme Architects & Interior Designers for Promising Architect in Institutional and Hospital Design.

Ar. Dhanjay Panwar- Synectics Architects for Eminent architect in Contemporary Design, Maharashtra

Mr. Amar Sanganeria – Packman for Windows blinds & Soft furnishings

ID Jay Seth & ID. Hetal Seth – Ease Interiors for High living luxury Interior Designer in Mumbai

Mr. Arif Fazlani – Fazlani Group for Ismail Building – Zara Store, Fazlani Group  for recognizing the project as a LEGENDARY LANDMARK HERITAGE of Mumbai

ID. Yogita Sureka – Yogita sureka interiors for Best Interior Designer of Kolkata

Ar. Nupur Magdum  – Sernya spaces for Luxury Designers Architects & Interior of Maharashtra

ID. Purvi Shah – Purivi Shah Interiors for Excellence in Interior Design of Residential & Commercial Spaces, Maharashtra

Ar. Bhavik K Shah – – Enclosurre – Architects & Interior designer for Contemporary Luxurious Residential Interiors, Maharashtra.

Mr. Ravi Kanade – Studio SP Photography for Best architectural & Interior Photography.

Ms. Swati Bhosale – First Step Public Relation for Most Promising PR company in India

Ar. Abhay Pise – Abhay Pise & Associates for Excellence in contemporary architecture designs – Residential, South Maharashtra

Ar. Mahantesh Kokalki – Om Sai Consultants for Best luxury Architects & Interior Designer, South Maharashtra.

Ar. Asit B Gupta- Studio Clay- Eminent Architect with Most Diversified Design Portfolio, Uttar Pradesh.

Dr. Kishor Navandar – CMD Blue billion group for Most promising brand in hospitality industry

Dr. Nikita Pawar – MBBS for For the field of medical excellence

Azam Shaikh – Hotel Cliffton For Most promising brand in hospitality suburbs

Poonam Chaubey – For excellence in women empowerment and making India proud

Neeraj Mishra – Octave Entertainment for Promising Brands in artist management and talent acquisition industry

Thane Next Project – Shivam developers for Promising Project Real Estate industry

Sachin Jadhav -Excel Investigations in Back ground verification Industry

Narendra Bhutda – Innovative hydro carbons india pvt ltd for Promising Brand in sustainable Energy industry

Dr. Babita Bishwas – Briatoshs NGO for promising NGO in serving Humanity

Dr. Raven Begal – Adhar Ayurveda for Promising brand in Ayurveda industry

Rupali Dumbre – For promising Make up artist

Navnath Dongare Patil – Uttech Ecosys pvt ltd for Most promising solar manufacturing company

Apart from them there are 26 celebrities who are nominated for the ‘Indian Industry Excellence Awards 2022’ and their names are mentioned below :

1. Namita Rjhans & Tansneem Lathiwala – Shimmer Entertainment is nominated for Promising Artist Reputation Management Agency

2. Hussain Lathiwala – Rossmann is nominated for Promising Innovative Appliances

3. Dr. Madhura Rajhans Kulkarni – Animal Clinic is nominated for Promising Veterinary Doctor

4.  Malvi Malhotra – Nominated for Fresh New Face Female.

5. Nikita Rawal – Nominated for Glam Style Icon.

6. Payal Ghosh –  Nominated for Glam Style Icon.

7. Kenisha Awasthi –  Nominated for Promising Digital Influencer

8. Kiku Sharda –  Nominated for Best Comedian Actor

9. Dhrriti Saharan Reddy –  Nominated for Best Singing Sensation

10. Nikhil Bhambri –  Nominated for Promising Performer of OTT

11.Preeti Jhangiani & Parvin Dabas – Swen Entertainment Pvt Ltd is nominated for Sports & Entertainment Entrepreneur

12. Vishaal Kotian –  Nominated for Best Actor

13. Urvashi –  Nominated for Most Stylish Actress

14. Rakhi Sawant –  Nominated for Entertainer of The Year (Television Industry)

15. Rajiv Adatia –  Nominated for Entertainer of The Year (Television Industry)

16. Ritika Jatin Ahuja – Nominated for Female Entrepreneur of The Year

17. Renu Kaushal –  Nominated for Rising Star Female

18. Shivya Pathania –  Nominated for Promising Fashion Icon

19. Sameeksha Sud –  Nominated for Style Icon of The Year

20. Rupali Suri –  Nominated for Fitness Icon

21. Erica Fernandes –  Nominated for Stylish Icon

22. Melvin Louis –  Nominated for Style  Fashion Icon

23. Kangna Sharma  Nominated for Fashion & Style Icon

24. Chinki Minki –  Nominated for Stylish Sister Duos (Fashion Industry)

25 Sanjay Gagnani –  Nominated for Most Versatile Actor (Kundali Bhagya)

26. Ranjha Vikram Singh –  Nominated for Best Actor Excel In Indian Cinema

On speaking to few nominations and aspirants all seem to be geared up for the awards.

Watch Gosling, Evans, Dhanush in the Gray Man Trailer in 6 Languages



The Gray Man trailer is out — in English, Hindi, Tamil, Telugu, Kannada, and Malayalam. On Tuesday, Netflix released the first trailer for its most expensive movie ever — taking over from action comedy Red Notice, with Dwayne Johnson, Ryan Reynolds, and Gal Gadot — a global spy thriller headlined by Ryan Gosling and Chris Evans.

The new Netflix film is directed by Anthony and Joe Russo, known for churning out superhero blockbusters such as Marvel Studios’ Avengers: Infinity War and Avengers: Endgame.

The Gray Man trailer

The Gray Man Hindi trailer

Dhanush makes his Hollywood debut with The Gray Man, is a “lethal force” to reckon with, as per a new poster shared by Netflix on Monday. The details of the role played by Dhanush are yet to be disclosed.

In The Gray Man trailer, Dhanush can be seen challenging his adversary for an old-school, brutal fist fight.

According to Netflix, The Gray Man is CIA operative Court Gentry (Gosling), aka, Sierra Six, who is plucked from a federal penitentiary and recruited by his handler, Donald Fitzroy, played by Billy Bob Thornton.

The Gray Man Tamil trailer

The Gray Man Telugu trailer

“… Gentry was once a highly-skilled, Agency-sanctioned merchant of death. But now the tables have turned and Six is the target, hunted across the globe by Lloyd Hansen (Evans), a former cohort at the CIA, who will stop at nothing to take him out. Agent Dani Miranda (Ana de Armas) has his back. He’ll need it,” the film’s official synopsis reads.

The Gray Man also stars Regé-Jean Page, Jessica Henwick, Wagner Moura, Alfre Woodard, Julia Butters, Eme Ikwuakor, and Scott Haze.

Based on the novel The Gray Man by Mark Greaney, the screenplay is by Joe Russo, Christopher Markus, and Stephen McFeely.

The Gray Man Malayalam trailer

The Gray Man Kannada trailer

The producers are Joe Roth, Jeffery Kirschenbaum, Joe Russo, Anthony Russo, Mike Larocca and Chris Castaldi. Executive producers are Patrick Newall, Christopher Markus, Stephen McFeely, Jake Aust, Angela Russo-Otstot, Geoff Haley, Zack Roth, and Palak Patel.

In an interview last December, Dhanush had said he loved working on The Gray Man and described collaborating with the Russo brothers “a very good learning experience.” He was last seen in the 2022 Tamil action film Maaran.

The Gray Man is out July 22 on Netflix. In India, The Gray Man will release in English, Hindi, Tamil, Telugu, Kannada, and Malayalam.


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SpiceJet Faces Ransomware Attack, Passengers Left Stranded on Airport



Hundreds of SpiceJet airlines passengers were stranded at various airports due to a ransomware attack that impacted the morning flight departures on Wednesday.

Confirming the development, a SpiceJet spokesperson informed that a ransomware attack on Tuesday night had slowed down the departure of flights today morning.

“Certain SpiceJet systems faced an attempted ransomware attack last night that impacted and slowed down morning flight departures today. Our IT team has contained and rectified the situation and flights are operating normally now,” the SpiceJet tweeted after getting numerous queries over the delay in departure.

Meanwhile, as the passengers stuck at airports raised concerns over the delay the ground staff informed them that ‘the server was down’. One of the passengers Renu Tilwani tweeted that a flight to Bangalore, scheduled to depart at 9.30 am, is now been reflected to depart at 1.30 pm. However, the officials are not providing details over the technical glitch, stating that they are unable to track the development.

Passengers are questioning SpiceJet on Twitter over their claims of resumption of normal operations.

Back in 2020, SpiceJet was reportedly affected by a security flaw that exposed private details of more than 1.2 million passengers, including flight information. The information was said to have been found in an unencrypted database file after a security researcher gained access to a SpiceJet system by brute forcing the password.

As reported by TechCrunch, the breach was by a security researcher who the publication is not naming, as they likely violated US computer hacking laws. The report elaborates to claim the researcher gained access to one of SpiceJet’s systems by brute-forcing what’s being termed as an “easily-guessable password.” The system contained an unencrypted backup file with private details of over 1.2 million passengers, as of last month, including a rolling month’s worth details such as name, phone number, email address, date of birth, and flight information.


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Musk-Twitter Deal Highlights SEC’s Relationship With the Billionaire



US securities regulators have pulled their punches in dealings with Elon Musk largely because an April 2019 court hearing on a statement he made about Tesla on Twitter didn’t go their way, according to four sources with knowledge of the matter.

The US Securities and Exchange Commission (SEC) asked the court to hold the billionaire in contempt, saying a tweet by the Tesla CEO – which forecast production at the carmaker – violated a court agreement Musk signed the previous year to have some of his communications vetted by a lawyer.

By trying to rein in his comments, the SEC was veering into relatively uncharted territory. SEC rules require that public companies and their executives disclose accurate information that may be material to investors via channels that investors know to monitor. It doesn’t usually specify how companies should do that.

But the 2019 remarks by judge Alison Nathan – who found the terms of the agreement between Musk and the SEC to be “soft” and urged them to reach an understanding – knocked confidence among officials overseeing the case that the courts would support them if they attempted to prosecute his activity on Twitter, the four sources said.

Interviews with individuals familiar with the situation – as well as a review of court documents, SEC and Tesla emails obtained by the media through a public records request – showed that in the wake of Nathan’s comments, SEC officials opted to urge Musk to comply with the agreement, rather than pursuing enforcement through the courts.

Spokespeople for the SEC declined to comment on its enforcement dealings with Musk. Spokespeople for Tesla and Twitter and a representative for Judge Nathan did not respond to requests for comment for this story.

Musk’s attorney, Alex Spiro, did not respond to requests for comment on the SEC’s deliberations, but court records and Tesla emails show he and other lawyers for the Tesla boss dispute that Musk’s tweets violated the agreement.

With Musk’s use of social media under scrutiny after he bid to purchase Twitter, the interviews and documents shed light on the regulator’s view of its relationship with the billionaire, now the world’s richest man. He has 95 million Twitter followers and called the SEC “bastards” in an interview in April.

The sources said they are not familiar with the current thinking of the SEC, which has been under new leadership since US President Joe Biden took office in January 2021. Under new Chair, Gary Gensler, the agency has pledged to crack down on repeated misconduct and push for tougher penalties.

It recently opened more investigations into Musk. Among them, a probe into two of his November tweets asking if he should sell shares in Tesla, court documents regarding Musk’s settlement with the SEC show.

Nathan was promoted to the New York-based 2nd US Circuit Court of Appeals in March. A newly assigned judge in the case, Lewis Liman, ruled in the SEC’s favor last month.

“Material information”

The SEC’s fight with Musk started on August 7, 2018, when the CEO, whose company had been telling investors to monitor his Twitter feed since 2013, sent Tesla shares soaring by tweeting “funding secured” to take the publicly listed company private. The SEC opened an investigation: It found Musk at the time had not even discussed key deal terms with any potential funding source, SEC court filings later showed.

Musk says funding was secured.

In September 2018, agency officials told Musk he had a choice: Fight stiff charges over the tweet in court or settle and suffer lesser penalties, one of the sources said. Tesla shares were around $300 (roughly Rs. 23,200) compared with more than $630 today (roughly Rs. 48,800) after a five-for-one stock split in 2020. Musk agreed to settle.

During the April 4, 2019 hearing, in comments to the SEC about the settlement’s language on what tweets should be vetted, Nathan said, “This case is unusual.” Her exploration of the terms of the settlement has not previously been reported in detail.

The settlement required Tesla to establish a process for overseeing all of Musk’s communications about the company, including hiring or designating an “experienced securities lawyer” to vet social media posts. Musk also agreed that he would certify in writing that he had complied, and provide proof; and to step down as Tesla chair while remaining CEO. No end-date was set for the arrangement.

The vetting process required that Musk seek pre-approval for written communications – including tweets – that contained “or reasonably could contain” information material to Tesla shareholders.

But the decision on whether they contained material information was left to Musk and Tesla.

Less than six months later, on February 19, 2019, Musk tweeted that Tesla would make “around 500k” cars that year. If unvetted, this was arguably a violation of the settlement because production figures can be market sensitive information, SEC officials said in court filings.

The SEC staff asked Tesla whether Musk had submitted the tweet for vetting. He had not, Tesla attorneys told the SEC. The SEC said in the court complaint that when it looked into the Feb. 2019 tweet, it found Musk had not sought pre-approval for any Tesla-related tweets since the vetting system started. Its attorney told the court, “Mr. Musk has tweeted upward of 80 times about Tesla, and the SEC thought nothing of it. We assumed that everyone was proceeding in good faith.”

Tesla attorneys said in a court filing Musk had not sought pre-approval because he “has not tweeted material information regarding Tesla.”

“Reasonableness pants”

For SEC officials, Musk’s violation was clear, four of the sources told Reuters.

In April 2019 they went to the New York court to argue that Musk should be held in contempt of court – a serious charge that can result in fines or jail. The SEC wanted the court to order Musk to report monthly to the agency on his compliance and enforce escalating fines for violations, its lawyer told the judge at the hearing.

SEC officials felt they had the upper hand because they believed the violation was unambiguous, said the four sources, two of whom have direct knowledge of the matter.

Following a 1976 Supreme Court ruling, the SEC’s rules have defined material information that a public company must disclose as matters “a reasonable investor” would likely consider important. The regulator’s requirement in the deal with Musk was broader than that, it told the court: “We would argue it essentially means unless something is obviously immaterial, it needs to get pre-approval.”

Musk’s lawyers told the court the SEC’s interpretation of the settlement’s vetting requirements was “incorrect” and “overbroad.”

Judge Nathan challenged what she described as the settlement’s “soft” standard for assessing when a tweet was material, the court transcript shows; she also agreed with Musk’s lawyer that the SEC should have tried to resolve the issue out of court, saying, “This screams of working it out.”

Nathan did not conclude whether the tweets were material, or rule on the contempt motion, saying: “My call to action is for everybody to take a deep breath, put your reasonableness pants on, and work this out.”

SEC officials felt they had no choice but to revise the settlement, according to the four sources. The SEC, Tesla and Musk agreed to be more specific about what comments must be pre-approved – including statements about Tesla’s financial condition, proposed or potential deals, production numbers, and performance projections.

Nathan approved that revised agreement on April 30, 2019.

The tweets go on 

In the following months, SEC officials felt Musk pushed the boundaries of the revised settlement but were reluctant to return to court, fearing Nathan might reject their complaint and admonish them for bringing the issue back, three sources said.

On July 29, 2019, Musk tweeted that he was hoping to manufacture “1,000 solar roofs” a week by year-end; and on May 1, 2020 that Tesla’s stock price was “too high.” Each tweet prompted the SEC to contact Tesla and Musk’s attorneys seeking information on whether they had been pre-approved, according to SEC correspondence sent to Tesla on the matter obtained by public records requests.

Musk had not sought pre-approval; Tesla’s attorneys argued in the emails to the SEC it wasn’t necessary. The regulator disagreed. The SEC said in emails it was trying to work out the dispute “in the spirit of the Court’s directive” but that Tesla and Musk’s attorneys had declined to provide requested documents, or have a “productive dialogue” with SEC staff.

In June 2020, the SEC emailed Musk advising him it was the “SEC’s position that you violated” the settlement.

Instead of returning to court, however, the SEC said: “Going forward, we urge you to comply.”

Some SEC officials felt the settlement constrained Musk to some degree, which helped protect investors, said the four sources.

The SEC also was uneasy about the risks of the most extreme step – scrapping the deal and starting litigation – given Musk’s resources, four of the sources said.

In addition, Musk was and remains Tesla’s largest shareholder, with roughly 16 percent of the stock as of late April, so it might be hard to argue that barring him as a public company director or officer was in shareholders’ interests or would loosen his grip on Tesla, two of the sources said.

In March, Musk asked the court to void his settlement with the SEC.

The new judge in the case, Liman, rejected Musk’s appeal in April. He found the billionaire was “bemoaning” the 2018 deal now that he felt Tesla was “invincible”. A representative for the court said Liman would not comment.

© Thomson Reuters 2022


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