“SEC Investigating Whether OpenAI Investors Were Misled: Regulator Is Examining Internal Communications of CEO Sam Altman”, 2024-02-28 (; backlinks):
The SEC is scrutinizing internal communications by OpenAI Chief Executive Sam Altman as part of an investigation into whether the company’s investors were misled. The regulator, whose probe hasn’t previously been reported, has been seeking internal records from current and former OpenAI officials and directors, and sent a subpoena to OpenAI in December, according to people familiar with the matter…Some people familiar with the investigation described it as a predictable response to the former OpenAI board’s claim in its November statement. One of the people said that the SEC hasn’t pointed to any specific statement or communication by Altman that it has deemed misleading.
…The WilmerHale review is expected to wrap up in a few weeks and produce a report on the events, people familiar with that review said. The review focuses on the board’s handling of his ouster as well as Altman’s conduct. In some cases, WilmerHale lawyers’ line of questioning has appeared to be more focused on what happened in November and the board’s role, rather than a broader look at Altman’s conduct and managerial style over the years, some of those people said. Another person familiar with the review said the lawyers asked questions about both topics.
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