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SEC Lawsuit
- Thread starter Buggle
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- Elon Musk Tesla Inc.
I'm guessing people with actual (not paper) losses due to trades executed during some time period relative to the tweet/ staying public announcement.
Barklikeadog
Active Member
Brando
Active Member
Martha actually conducted some trades. Did Elon? Oh, not accused nor convicted of any insider trading?
Must have done something wrong, right? Well just give the SEC some money. Is this a $40 million bribe? to keep your job?
Martha actually conducted some trades. Did Elon? Oh, not accused nor convicted of any insider trading?
Must have done something wrong, right? Well just give the SEC some money. Is this a $40 million bribe? to keep your job?
Non-related cases.
MS traded a stock (based on insider information) in a third party company. Elon was being charged as the CEO of a company and his impact on all TSLA investors.
Brando
Active Member
yeah, considering how little gain in stock price, I see your point, I think... but when will he actually make cars?
oh, not about the customers/products? only about stock price and speculative profits? Can't we get our military (only cost a few hundreds of billions) to help spread our fine legal/regulator system around the world? Now that is something to vote for. Right Alice?
All starting to make perfect sense now, I think. I'm late for an important date for tea with a rabbit, later
Huh?yeah, considering how little gain in stock price, I see your point, I think... but when will he actually make cars?
oh, not about the customers/products? only about stock price and speculative profits? Can't we get our military (only cost a few hundreds of billions) to help spread our fine legal/regulator system around the world? Now that is something to vote for. Right Alice?
All starting to make perfect sense now, I think. I'm late for an important date for tea with a rabbit, later
My only point was that it was a private citizen in one case and a company CEO in the other (though I contend it was clearly not CEO Musk working on going private)
Do you have any evidence to back up this accusation of the government? Both short and long sellers were hurt by Elon’s tweets. Which group are you referring to? In fact, more long investors probably.
They didn’t move forward because they realized that it was practically impossible. Elon tweeted before retaining advice that would have made him aware of that. This is the core of the SEC complaint, that a CEO is so reckless and rash.
Brando
Active Member
No need for "guessing" - the below paragraph explains what/how the $40 million Fund will be distributed.
"The Commission may propose a plan to distribute the Fund subject to the Court’s approval. Such a plan may provide that the Fund shall be distributed pursuant to the Fair Fund provisions of Section 308(a) of the Sarbanes-Oxley Act of 2002, as amended. The Court shall retain jurisdiction over the administration of any distribution of the Fund. If the Commission staff determines that the Fund will not be distributed, the Commission shall send the funds paid pursuant to this Final Judgment to the United States Treasury."
READ the entire SEC document:
UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK UNITED STATES SECURITIES AND EXCHANGE COMMISSION Plaintiff vs. ELON MUSK Defendant
No. 1:18-cv-8865-AJN-GWG
CONSENT MOTION FOR ENTRY OF FINAL JUDGMENT
gov.uscourts.nysd.501755.6.0 | Complaint | Bankruptcy In The United States
================
$40,000,000.00 - anyone going to try and get a part of this Fund?
Losers:
Elon Musk [pays] -$20,000,000.00
Tesla [pays] -$20,000,000.00
And who gains?
Think we shall ever know where the money go?
IF you/anyone finds out, please let TMC readers know. Thanks.
Brando
Active Member
Thanks to Electrek for posting the above SEC document
Elon Musk settles SEC lawsuit, forced out as Tesla’s chairman but stays as CEO, $20 million fine and more
Elon Musk settles SEC lawsuit, forced out as Tesla’s chairman but stays as CEO, $20 million fine and more
Barklikeadog
Active Member
Martha Stewart wasn't a ceo of a public company? She sure was, and had to step down and not be an officer of a public company for 5 years.
Right, I read the entire settlement yesterday. Assuming there is a plan (your bolded section), I'd expect it to be as I stated.
The insider trading/ SEC complaint for Stewart was not related to her company. It was a stock she held.
SEC's case against Elon was purely about his actions as CEO and the company he was CEO of.
Barklikeadog
Active Member
Unless something has changed, I believe Elon Musk still is CEO. Thanks for explaining these two events, I had no idea what happened, it is my first day here.
I didn't look at SEC achievements back then, and I don't know her circumstances. If she got in jail, means DoJ found something. Anyway this "saving the world" BS bring to somebody else and elsewhere, this thread is about SEC vs Musk and this site is about Tesla.
In this case Musk definitely could break SEC case down.
Tesla's case was quite different because "information missmanagement" is far from clear. While they would defend it against
the investigation would involve all directors in SEC inquiries circus and would drug for very long time being the first case and definitely having ground to "probe".
So when the case was built Musk immediately folded up because he is very loyal to his company and the people he respects.
If you want to look at what SEC really doing check Clarium Capital during 2004-2008. Actually 2006-2007 most interesting. I wonder if you will find the thing.
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