SEC pursuing a contempt charge for tweet

[dww12]

So how is this going to play out.

Tesla's Musk risks contempt charge as SEC argues tweets violate deal

It seems a bit heavy handed, but his tweet was not approved first. It was after hours and corrected, had mostly data already covered, but did not follow his settlement with approval. Is SEC going too far or it black and white contempt? I can’t stomach the yahoo finance board.

 

[Matt L]

So how is this going to play out.

Tesla's Musk risks contempt charge as SEC argues tweets violate deal

It seems a bit heavy handed, but his tweet was not approved first. It was after hours and corrected, had mostly data already covered, but did not follow his settlement with approval. Is SEC going too far or it black and white contempt? I can’t stomach the yahoo finance board.

Love Elon...dude can not control himself.

Was a stupid tweet. When there are so many people gunning for you, you may not want to stand on the table waving your hands, yelling shoot me.

 

[juanmedina]

The tweet was after hours and had no effect on the stock. The SEC already got $40M and the independent board members, what more do they want. I wish Elon had taken the company private. Tesla has too many enemies.

 

[Matt L]

The tweet was after hours and had no effect on the stock. The SEC already got $40M and the independent board members, what more do they want. I wish Elon had taken the company private. Tesla has too many enemies.

He doesn’t have the money to go private.

 

[juanmedina]

He doesn’t have the money to go private.

How do you know? Many think he has or he can get the money easy.

Tomorrow is going to be interesting. Oh well I been holding my Tesla stock since 2014 IIRC and I am not planning on selling any of it.

 

[commasign]

No violation. He did say 350k to 500k on the last conference call. It's in the official transcript he just retweeted. Repeating something in the public record is not a crime.

JonP on Twitter

 

[Matt L]

How do you know? Many think he has or he can get the money easy.

Tomorrow is going to be interesting. Oh well I been holding my Tesla stock since 2014 IIRC and I am not planning on selling any of it.

I go back to the heart of the SEC issue. He claimed he had funding lined up from the Saudis to take the company private. Turns out he didn’t and thus, didn’t go private. So based on him voicing his intent and desire multiple times, I would assume if he could he would.

 

[dww12]

“Tesla made 0 cars in 2011, but will make around 500k in 2019”

It sounds like a general “Look how far we have come” statement, and the 500k could have just been a rounding to get a nice 1/2 mil, but then he has to know a fairly precise number and is he just trying to slip in a higher number to make rumors? And come on it’s about Tesla, get the OK!!!

 

[Matt L]

No violation. He did say 350k to 500k on the last conference call. It's in the official transcript he just retweeted. Repeating something in the public record is not a crime.

JonP on Twitter

We will see, he corrected for a reason

 

[commasign]

We will see, he corrected for a reason

As long as a number he says is within the range of what's on the official transcript, he's covered. Honestly, no one (not even Elon) knows where things will fall between 350k and 500k. 400k is a nice conservative number, but the range is still 350k to 500k.

 

[dww12]

No violation. He did say 350k to 500k on the last conference call. It's in the official transcript he just retweeted. Repeating something in the public record is not a crime.

JonP on Twitter

Ok, good he had the 500k number in there.

 

[glide]

That explains why the GC quit.

No one can shut this idiot up it seems.

 

[glide]

No violation. He did say 350k to 500k on the last conference call. It's in the official transcript he just retweeted. Repeating something in the public record is not a crime.

JonP on Twitter

Not a crime but it 100% violates his deal.

 

[BLKMDL3]

Is it just me or will his fine be $420k?

 

[dww12]

Not a crime but it 100% violates his deal.

Only if you are counting days. The tweet 2 days after with no approval would have passed. 20 days out, same info, apparently is too much for SEC.

 

[S4WRXTTCS]

Not a crime but it 100% violates his deal.

I think it's what one would call a mouse trap.

Or in this case an Elon Trap.

He simply couldn't help himself, and it was over one of the most 'Meh' things possible.

What's even more ridiculous is Elon taunted the SEC so the SEC simply sat back, and waited for proof that the tweets weren't being reviewed.

The SEC gave Elon a gun with this agreement.

Elon took the gun (signed the agreement)
Loaded the bullet (mentioned that not all of his tweets would be reviewed)
Shot himself (tweeted something that violated the deal)

The SEC probably said "Well that was easier than expected"

 

[sduck]

This thread is not model 3 related, should be in the general tesla subforum

 

[TheTalkingMule]

Anything that makes the SEC look more foolish is ok with me.

 

[HVM]

Somebody in SEC is too fond of non-functional-dolphins.

 

[Matt L]

This thread is not model 3 related, should be in the general tesla subforum

Tissue?