Tesla, TSLA & the Investment World: the Perpetual Investors' Roundtable

[EVNow]

I never doubted it, it was obvious he only settled to avoid the negativity of litigation hanging over the company. "Considering" doing something is not any sort of legally binding statement and of course he could have gotten the funding to make it happen. At least one former SEC member felt Elon had a strong case.

Courts are generally weary of restricting speech …. So, would be interesting to see what happens.

 

[MP3Mike]

Courts are generally weary of restricting speech …. So, would be interesting to see what happens.

Yes, it will be interesting. Maybe I am missing something but it seems like the SEC lawyer has filed false documents with the court. In a letter to the court he said this:

Finally, Mr. Spiro’s letter incorrectly implies that the Commission staff have issued subpoenas in this litigation. That simply is not true—the Commission staff have not issued any subpoenas in this litigation. I

At least if what Elon, and his lawyer, is claiming is accurate that they received a subpoena on 11/29/2021.

I wouldn't think the court would look kindly on Steven Buchholz lying about, or misrepresenting, their actions to the court. (Or maybe there really is a rouge employee at the SEC?)

edit: But he was very specific about "Commission staff" having not issued a subpoena. Maybe a contractor issued it? Or someone they don't consider as "staff"? A director?

 

[Ogre]

At least if what Elon, and his lawyer, is claiming is accurate that they received a subpoena on 11/29/2021.

I wouldn't think the court would look kindly on Steven Buchholz lying about, or misrepresenting, their actions to the court. (Or maybe there really is a rouge employee at the SEC?)

edit: But he was very specific about "Commission staff" having not issued a subpoena. Maybe a contractor issued it? Or someone they don't consider as "staff"? A director?

There's been a bit of back and forth about this. The SEC is claiming that their request for information was not a "subpoena" but a more informal request. Which... presumably Tesla was free to ignore?

 

[adiggs]

Yes, it will be interesting. Maybe I am missing something but it seems like the SEC lawyer has filed false documents with the court. In a letter to the court he said this:



At least if what Elon, and his lawyer, is claiming is accurate that they received a subpoena on 11/29/2021.

I wouldn't think the court would look kindly on Steven Buchholz lying about, or misrepresenting, their actions to the court. (Or maybe there really is a rouge employee at the SEC?)

edit: But he was very specific about "Commission staff" having not issued a subpoena. Maybe a contractor issued it? Or someone they don't consider as "staff"? A director?

Am I missing something - the linked letter looks like the court granting the motion to quash the subpoena as well as the motion to terminate the consent decree to be granted. I feel I'm missing something if only because I expected this to have a lot more back and forth and time to resolution.

 

[MP3Mike]

Am I missing something - the linked letter looks like the court granting the motion to quash the subpoena as well as the motion to terminate the consent decree to be granted. I feel I'm missing something if only because I expected this to have a lot more back and forth and time to resolution.

Sorry, I linked the wrong one, here is the correct letter, and I have fixed the other post. (The incorrect one I linked is a proposed order, the judge hasn't signed it and made it an actual order.)

 

[Cattledog]

I would suggest your sampling is unscientific. There are three Teslas within a block of my house (Houston suburb).

There are three Teslas within 20' of each other at my house (Houston suburb - San Antonio)

 

[lafrisbee]

Hey , anyone on here that can put a bug in Elon's ear as to whether "we" can get some of those invitations?

Tesla Giga Fest at Giga Texas: Attendance figures, time, other details revealed

Tesla’s Giga Fest at Gigafactory Texas is officially set for April 7, and new documents released today reveal the plans for the event, including attendance figures, time, and other details. What is the Giga Fest Tesla’s Giga Fest is an event that will be held on April 7, starting at 4 pm and...

www.teslarati.com

 

[lafrisbee]

There are three Teslas within 20' of each other at my house (Houston suburb - San Antonio)

I bet none of you all went to the rodeo?

 

[ggies07]

For those that disagreed with my post the other night, here ya go. Maybe some on here never read this because it's from 2016.

We Need to Literally Declare War on Climate Change

We’re under attack by a powerful enemy—and our only hope is to mobilize like we did in WWII.

newrepublic.com

 

[JusRelax]

I'm surprised that we've been discussing the impact of the war on opening up people's eyes to the importance of relinquising our reliance on oil and no one has mentioned the opportunely-timed Alaskan Megapack video that Tesla released (or did I just miss a comment where this was discussed?):

 

[jerry33]

It's literally illegal to buy a Tesla in Texas, so that might have some impact.

I've been asking for a while in the oil thread what people think Texas will do for tax revenue or basic services once oil & gas go the way of the coal industry. It ain't far off.

People like Elon flock there for their low taxes and "freedom", but it's all rooted in oil & gas revenue.

Well there's no income tax, but by the time you pay property tax and the city taxes, it's not all that low. Last I heard, the oil economy in Texas was something like one third. Texas is rapidly becoming industrially diverse (perhaps not Houston).

 

[JRP3]

I'm surprised that we've been discussing the impact of the war on opening up people's eyes to the importance of relinquising our reliance on oil and no one has mentioned the opportunely-timed Alaskan Megapack video that Tesla released (or did I just miss a comment where this was discussed?

Discussed back in Feb Tesla, TSLA & the Investment World: the Perpetual Investors' Roundtable

 

[⚡️ELECTROMAN⚡️]

I'm surprised that we've been discussing the impact of the war on opening up people's eyes to the importance of relinquising our reliance on oil

If the Iraq war didn't open their eyes what makes you think this one will?

 

[Artful Dodger]

Rob Maurer did a nice 3 min summary of today's co urt phile ings: (queued)

 

[Prunesquallor]

Well there's no income tax, but by the time you pay property tax and the city taxes, it's not all that low. Last I heard, the oil economy in Texas was something like one third. Texas is rapidly becoming industrially diverse (perhaps not Houston).

Houston is much more diverse economically than it was in the 80's and 90's. Energy is still the biggest segment (~15%), but retail and health services are almost as big and growing more rapidly.

Data is 5 years old - I expect the trend has continued.

 

[TheTalkingMule]

Houston is much more diverse economically than it was in the 80's and 90's. Energy is still the biggest segment (12%), but retail and health services are almost as big and growing more rapidly.

Data is 5 years old - I expect the trend has continued.

View attachment 778561

You don't need retail, or construction, or financial services, or medical services if no one's making any money in the oil & gas industry.

 

[Prunesquallor]

You don't need retail, or construction, or financial services, or medical services if no one's making any money in the oil & gas industry.

You don't think people in the other 85% of the economy need those things?

 

[TheTalkingMule]

You don't think people in the other 85% of the economy need those things?

I'm just saying the 12.2% that's oil & gas is entirely supporting the next 47%. It'll be like Buffalo, only warmer.

 

[MP3Mike]

Details of the SEC's plans to distribute the $40M have been filed with the court. The main document describing the details is here: https://storage.courtlistener.com/recap/gov.uscourts.nysd.501755/gov.uscourts.nysd.501755.76.2.pdf

Only "realized" losses for stock purchased between 8/7/2018 12:48:16 PM EDT and 8/8/2018 4:00 PM EDT count.

For Securities purchased or acquired during the Relevant Period, the Recognized Loss per Share is:

• A. the purchase/acquisition price minus the greater of i) the sale price, or ii) $356.67, the share price just prior to the false and misleading statements, if the share was subsequently sold during the Relevant Period;
• B. the purchase/acquisition price minus $356.67, if the share was held at the end of the Relevant Period; and
• C. the purchase/acquisition price minus $356.67, if the share was purchased to close a short position opened before the Relevant Period.

Other related documents:

https://storage.courtlistener.com/recap/gov.uscourts.nysd.501755/gov.uscourts.nysd.501755.76.0.pdf

https://storage.courtlistener.com/recap/gov.uscourts.nysd.501755/gov.uscourts.nysd.501755.76.1.pdf

 

[TheTalkingMule]

The SEC seems to be purely in the business of bailing out idiots or fraudsters. Apologies to those here that purchased on 8/7/20.