yep, the Board needs to tell Elon these little mistake detract from the mission
-
Want to remove ads? Register an account and login to see fewer ads, and become a Supporting Member to remove almost all ads.
Tesla, TSLA & the Investment World: the Perpetual Investors' Roundtable
- Thread starter AudubonB
- Start date
yep, the Board needs to tell Elon these little mistake detract from the mission
Thanks for posting. Given Tesla's structural response to the original agreement and that Elon was referring to already public information it seems that the SEC is asking for a contempt charge for a pretty small mistake that was quickly corrected.
I will be surprised if the Judge sides with the SEC.
elon signed a legal document saying he'd have his tweets reviewed before publishing. as evidenced by 60 minutes and this, he's clearly not doing that. also his new lawyer left the next day lol.
Yes, thats my point. It doesn't matter whether he made factual statement or if his tweets moved market. I think the SEC is only looking at "Did Elon Musk seek approval for his tweet?" for the claim.
For those following...
The problem is with the word "will"
That's not guidance, anymore. There's a big difference between these two statements:
This is why we have disclosure laws, and why the SEC said he should have his tweets reviewed.
What. an. idiot.
The problem is with the word "will"
That's not guidance, anymore. There's a big difference between these two statements:
- We expect to make 500k
- We will make 500k
This is why we have disclosure laws, and why the SEC said he should have his tweets reviewed.
What. an. idiot.
The funny thing is that this is actually good for me since I have plans to buy more stock on Thursday. The level of absurdness though is just so insane to me.
Lol first post and you think we don't know you're agenda? To quote you "What. an. idiot."
the key point in the shareholder letter
"Barring unexpected challenges with Gigafactory Shanghai, we are targeting annualized Model 3 output in excess of 500,000 units sometime between Q4 of 2019 and Q2 of 2020."
"Barring unexpected challenges with Gigafactory Shanghai, we are targeting annualized Model 3 output in excess of 500,000 units sometime between Q4 of 2019 and Q2 of 2020."
*If* they contain new material information. This didn’t, either as he intended to write and corrected it to(run-rate of 500k) *or* as actually written, since that was included in the range he gave during the conference call.
First off I think the tweets are meaningless in terms of market movement. However, since the SEC is begging for a chance to nail Musk, this mistake wouldn’t have happened if the tweet was reviewed first yes? Will be interesting to see what happens. Dumb that it is over something so silly. But the agreement is pretty straightforward.
and if he didn't, which he probably didnt, then he's in for a lot of *sugar*. thumbing your nose at the SEC like this is always gonna catch the SECs attention. and everyone here loves to act like the SEC has a grand conspiracy with the shorts but frankly this is how laws work. the settlements they negotiate have to be adhered to or they are meaningless.
The The Verge report says
Elon Musk might be held in contempt of court over a Tesla tweet
So it was the lawyers that made Elon correct it and then the general counsel leaves the very next day. I think he knew this was coming. As most ppl have said, Elon is literally his own enemy. He's biggest pro (hyping stuff up) is his greatest weakness.
this is fairly open and shut for the SEC. not much of a defense Elon can make, if the SEC is in the mood to rip up the settlement. hopefully they let him go with a contempt charge. otherwise they will not offer as good a deal next time.
No, was just pointed here from Twitter and thought I'd explain why the 500k tweet was so problematic.
According to the court filing, Tesla's lawyer immediately asked for a meeting with Musk, and immediately drafted a clarifying tweet. Tesla's lawyer resigned the next day.
Regardless of people's opinions on the law, it is still the law, and Elon did violate it.
I will be curious to see how this plays out, because the court filing makes two claims:
- Musk violated his settlement
- SEC has reason to believe that 500k in 2019 is not achievable for Tesla. Hints that their supplier contracts haven't ordered the requisite materials.
I literally linked Tesla's policy (established as per the SEC agreement); did you not read it? It only requires approval for publication of material information. There was no intent to post material information in that post. Furthermore, it actually was within guidance as expressed in the investor call.
gonna make a prediction that Elon settles the contempt charge by making a deal with the SEC to delete the twitter account.
Yeah, totally. He should just render himself immune from typos. Problem solved.
Similar threads
- Locked
- Locked
- Locked
