It was half a joke... but I'm sorry Elon fighting now shows the board has no balls and nobody to stand up to him. He is risking everything here.
Even the SEC isn’t alleging what you are. Their complaint never suggests his actions were anything other than trying to take the company private. The whole timeline they provide shows pretty clearly it was an actual attempt to do so, even before the tweet.
It was SEC vs Musk, what could the board do? They aren't even parties to the case (which sort of shows Elon was not acting as CEO in his statements)
People need to STFU seriously about the settlement until we actually know what the terms are. 10 people talking out of their ass and then 10 people responding to pure speculation is not helpful. It is what it is right now. There is litteraly nothing to do but to wait and see for more info.
Anyone else have issues with this part of the suit? How can you be reckless through lack of knowledge?
So in 2008 the Market crashes and billions are lost. The outcome is no enforcement by the SEC. Now we have a CEO who act's in his investors best interest and he is being sued by the SEC. The irony is so thick it is suffocating.
Good. I wouldn't settle either. The SEC sat on their hands from 2006 to 2008 while fraud was literally everywhere, then did nothing in the aftermath. If I'm Musk I would not give in to Wall Street or the SEC. Any idea how long this process will take? Nice opportunity to lever up with some options right before deliveries are announced.
This case is one of symmnatics. His twitter statement was intended for all shareholders to know that he was *considering* going private. He didn’t say Tesla was going private. Funding secured was his affirmation that consideration was real. To be clear, funding secured was not a statement of confirming going private. It was not a statement of a done deal. It was a communication to all investors through the broadest, fastest dissemination mechanism (22.5 million followers) available to him to speak directly to all investors. No where in any statement Elon made did he indicate that going private was a done deal, or a deal at all... he notified all investors on his consideration. In this context, funding secured was a weight in that consideration to go private. The only ones that have made any complaint to the SEC were short hedges that have been manipulating the stock repeatedly within the press as well as through more nefarious means. The DOJ should investigate the entire situation, most importantly hedge fund activity in and around “whistle blower” leaks and releases to selected business media(not authorities) and how those leaks were used to make bets against Tesla. This type of behavior ratcheted up as Tesla Model 3 became the #1 in USA passenger vehicle sales. As such, Elon was also considering private to avoid this perpetual onslaught of unabated criminal activity as Tesla was reaching historic goals and in fact disrupting the traditonal auto industry. Clear motivation to illegally attack Tesla through stock manipulation for personal gain. There is absolutely no motivation or evidence of stock sales by Elon or board.
Thanks for this. So if I understand correctly, the uptick rule will be triggered if TSLA goes below $276.76 at any point on Friday (10% below Thursday's close). Or, is it the 9:45 am exception that doubles the trigger limit to -20% invoking the uptick rule if SP goes to $246.01 Just tryin' to understand...
SEC has jurisdiction over how a company officer interacts with stock market but it does not have jurisdiction over how a company run its daily business - that power belongs to share holders. If we share holders want Elon to run tsla daily business it is none of SEC's business. We should make a share holder proposal to create a "daily business runner but not a company officer" title and empowered the position with everything required to run tsla daily business, and pass it in an emergency shareholder meeting.
The Saudi wealth fund that bought 5% of Tesla isn’t going to be too happy tomorrow when their position goes really negative.
EM made the cardinal sin of going against the old boys club norms which dictate Wall St fat cats get their share of unearned profits before anyone else can invest. They would have liked it if like all other companies he quitely talked to big players and took the company private while screwing small investors.
Please sign this petition, if you agree: Elon Musk - Settle SEC Lawsuit and Move On, for Tesla's Sake Sign the Petition