Elon Musk Accused by SEC of Misleading Investors in August Tweet
17 replies, posted
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These headlines make Tesla stock appear as volatile as the BTC exchange.. Or is that entirely the point?
He's not human, he can do as he pleases... as far as he's concerned we're a bunch of meatbags smashing rocks together.
does that not sound even a little cult-like to you?
Can't just go around calling all aliens cult leaders, that's how we will become the bitches of the intergalactic community.
Kavanaugh and Elon gettin the wetwork in the same 24 hours feels pretty good
Oh, you're trying to be funny
The lawsuit alleges that Elon's August 7th tweets about selling company shares for $420 each were false/misleading. Skimming through the article, they seem to be putting a lot of words in his mouth with very abstract ideas of "investor support" being "secured" or "confirmed". The SEC complaint is confusing. They allege he didn't adequately discuss with both the company and shareholders about going private and selling shares at a premium before Aug. 7th, and then they go on to describe a bunch of events that happened before Aug. 7th in which Elon addresses the company+shareholders about this idea. One of a few mentioned in the legal document:
On August 2, 2018, after market close, Musk sent an email with the subject,
“Offer to Take Tesla Private at $420,” to Tesla’s
Board of Directors, Chief Financial Officer, and
General Counsel. In the email, Musk explained
his reasons for wanting to take Tesla private,including that being public
subjects Tesla to constant defamatory attacks by the short-selling
community, resulting in great harm
to our valuable brand.”
I don't think you can nail him for intentionally causing confusion for stock holders - Elon was pretty clear in those tweets that going private was not 100% certain or confirmed. The main reason he wants Tesla to go private is in order to reduce the volatility of Tesla's stock price.
I hope this case gets thrown out.
https://twitter.com/elonmusk/status/1026872652290379776
https://twitter.com/elonmusk/status/1026914941004001280?s=19
Their main allegation is that it was misleading to say funding was secured. He had had preliminary discussions with funding sources but apparently hadn't mentioned the $420 price or signed anything, it was from just 'contingent on a shareholder vote'
SELL SELL SELL
Big fan of your avatar, great album "Don't mind meee, I'm just killing time" "But if you got a lifeline, throw it, throw it." Dunno how to PM you.
Anyways, while I think it was a misleading and very rash I don't think it's worthy of this level of response.
All because he took a little toke on Joe Rogan. Ridiculous.
No this is because the short sellers who do everything in their power to fuck over Tesla will be completely ruined by this. When it was first suggested they immediately made reports to the SEC trying to get it prohibited.
Oh no. A dollar. Less than 0.25% of its current value.
Oh sorry, I almost cared for a moment. Suck it up, you Wall Street roaches. Don't you have several dozen other industries to go ruin today?
Amazing. People are buying and selling stocks on an up-and-coming technology giant, all with feelings based on what amounts to the writing on a public bathroom stall.
Trying to ban Musk from holiding a significant position in any public company seems a bit over the top. Apparently they offered him a no guilt deal but Musk has decided to fight it at the last minute.