Before SpaceX went public, institutions urged the SEC to investigate its financial condition

robot
Abstract generation in progress

Odaily Planet Daily News reports that consulting firm SOC Investment Group is urging the U.S. SEC to investigate SpaceX’s financial condition before its IPO, which could be valued at over $2 trillion. The organization states that the relationship between SpaceX and other companies owned by Elon Musk is concerning. According to a letter dated May 6 and submitted to the SEC, SOC requests the SEC to review the accuracy and reliability of SpaceX’s financial disclosures and to ensure that SpaceX’s auditing firm remains independent. SOC also urges the SEC to focus on examining the accounting treatment of transactions between SpaceX and Musk’s other companies. The letter states, “We are especially concerned that SpaceX’s IPO will expose a large number of investors to a company whose value may decline after financial disclosures are independently reviewed and verified.” (Jin10)

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin