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re: Breaking: Elon, Tesla served with FRAUD from SECPosted by boosiebadazz on 9/27/18 at 4:16 pm to barry
quote:
Musk said in an interview with The New York Times that he calculated a take-private price of $420 by rounding $1 up from what would have been a 20 percent upside at the time.
"According to Musk, he calculated the $420 price per share based on a 20% premium over that day's closing share price because he thought 20% was a 'standard premium' in going-private transaction," the SEC alleged in its suit. "This calculation resulted in a price of $419, and Musk stated that he rounded the price up to $420 because he had recently learned about the number's significance in marijuana culture and thought his girlfriend 'would find it funny, which admittedly is not a great reason to pick a price.'"
Absurdity
re: Breaking: Elon, Tesla served with FRAUD from SECPosted by HailToTheChiz on 9/27/18 at 4:57 pm to boosiebadazz
Musk has lost his mind
re: Breaking: Elon, Tesla served with FRAUD from SECPosted by southernelite on 9/27/18 at 5:38 pm to gobuxgo5
Good, frick Elon.
If you want a good laugh go to r/teslamotors or r/teslainvestorsclub. Bagholder quote gold over there.
The SEC has a fricking slam dunk on Elon. He will be barred from leading Tesla.
If you want a good laugh go to r/teslamotors or r/teslainvestorsclub. Bagholder quote gold over there.
The SEC has a fricking slam dunk on Elon. He will be barred from leading Tesla.
This post was edited on 9/27 at 5:40 pm
re: Breaking: Elon, Tesla served with FRAUD from SECPosted by castorinho on 9/27/18 at 5:42 pm to boosiebadazz
quote:this was my reply when it happened. And the guy actually admitted to doing it on purpose.
and Musk stated that he rounded the price up to $420 because he had recently learned about the number's significance in marijuana culture and thought his girlfriend 'would find it funny, which admittedly is not a great reason to pick a price.'"
re: Breaking: Elon, Tesla served with FRAUD from SECPosted by foshizzle on 9/27/18 at 7:10 pm to boosiebadazz
quote:
Musk stated that he rounded the price up to $420 because he had recently learned about the number's significance in marijuana culture and thought his girlfriend 'would find it funny
And just this past May the Board approved a compensation plan valued at $2.6 billion over 10 years.
Nice work, Elon.
re: Breaking: Elon, Tesla served with FRAUD from SECPosted by arkiebrian on 9/27/18 at 8:52 pm to gobuxgo5
Knew I should have shorted again.
re: Breaking: Elon, Tesla served with FRAUD from SECPosted by southernelite on 9/27/18 at 9:04 pm to arkiebrian
Had a deal and balked at it. Wow.
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re: Breaking: Elon, Tesla served with FRAUD from SECPosted by LSUtoOmaha on 9/27/18 at 9:08 pm to southernelite
Elon is not in touch with reality. I do not feel bad for shareholders though.
re: Breaking: Elon, Tesla served with FRAUD from SECPosted by b-rab2 on 9/27/18 at 10:49 pm to LSUtoOmaha
Time to roll my $50 October puts out to Dec
re: Breaking: Elon, Tesla served with FRAUD from SECPosted by southernelite on 9/28/18 at 2:18 am to jrowla2
The charge stems from the fact that the deal with the Saudis was an extremely informal “deal”. He came up with the 20% and rounded up himself. Which was, at best, careless.
Then he tweeted all that was needed was a shareholder vote even though he should have reasonably known that was not that case. That’s the tweet that’s going to nail him.
Then he tweeted all that was needed was a shareholder vote even though he should have reasonably known that was not that case. That’s the tweet that’s going to nail him.
re: Breaking: Elon, Tesla served with FRAUD from SECPosted by ynlvr on 9/28/18 at 7:38 am to southernelite
quote:
Had a deal and balked at it. Wow.
THIS ^^^^ is the most foolish part of this whole story. Such Arrogance will not play well at the SEC. I am surprised the Board backed him on this decision.
re: Breaking: Elon, Tesla served with FRAUD from SECPosted by martiallaw on 9/28/18 at 4:41 pm to gobuxgo5
Damn minus 13.09%, yikes.
re: Breaking: Elon, Tesla served with FRAUD from SECPosted by southernelite on 9/29/18 at 4:31 pm to martiallaw
Musk settling, $20mm fine, 3 year ban as Chairman, 2 independent board members, and he has to get approval from Tesla before communicating via any medium.
Doesn't absolve any criminal liability the DOJ may go after.
ETA: Tesla paying an additional $20mm
Doesn't absolve any criminal liability the DOJ may go after.
ETA: Tesla paying an additional $20mm
This post was edited on 9/29 at 4:49 pm
re: Breaking: Elon, Tesla served with FRAUD from SECPosted by arkiebrian on 9/29/18 at 5:33 pm to b-rab2
quote:
Time to roll my $50 October puts out to Dec
TSLA may go up with this latest news.
re: Breaking: Elon, Tesla served with FRAUD from SECPosted by castorinho on 9/29/18 at 5:40 pm to southernelite
quote:
and he has to get approval from Tesla before communicating via any medium.
re: Breaking: Elon, Tesla served with FRAUD from SECPosted by Keys Open Doors on 9/29/18 at 5:47 pm to castorinho
I haven’t seen real specifics on this. Does it include non-business tweets as well? If so, that may actually benefit everyone involved.
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