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SEC sueing Musk for security fraud

Posted on 9/27/18 at 3:23 pm
Posted by Janky
Team Primo
Member since Jun 2011
35957 posts
Posted on 9/27/18 at 3:23 pm
Just announced. Stock dropping like a rock.

Oh boy!
This post was edited on 9/27/18 at 3:24 pm
Posted by Thib-a-doe Tiger
Member since Nov 2012
36799 posts
Posted on 9/27/18 at 3:24 pm to
quote:

Musk have been sued



Who edits this fricking shite
This post was edited on 9/27/18 at 3:26 pm
Posted by upgrayedd
Lifting at Tobin's house
Member since Mar 2013
139218 posts
Posted on 9/27/18 at 3:25 pm to
Will the PAC 12 be suing next?
Posted by Fonzarelli
Dallas
Member since Jan 2015
4103 posts
Posted on 9/27/18 at 3:25 pm to
How long til Finebaum calls out Tesla’s strength of schedule?
Posted by Thib-a-doe Tiger
Member since Nov 2012
36799 posts
Posted on 9/27/18 at 3:27 pm to
OT will be in here sucking him off shortly
Posted by Tyga Woods
South Central Jupiter Island, FL
Member since Sep 2016
42894 posts
Posted on 9/27/18 at 3:27 pm to
Tesla ain’t played nobody Pawl!
Posted by jlovel7
NOT Louisiana
Member since Aug 2014
24261 posts
Posted on 9/27/18 at 3:27 pm to
We have an SEC rant for a reason...
This post was edited on 9/27/18 at 3:28 pm
Posted by Mr Personality
Bangkok
Member since Mar 2014
27364 posts
Posted on 9/27/18 at 3:28 pm to
Musk shits on the haters
Posted by Thib-a-doe Tiger
Member since Nov 2012
36799 posts
Posted on 9/27/18 at 3:29 pm to
quote:

Musk shits on the haters





He’s a high functioning moron


ETA: see post below
This post was edited on 9/27/18 at 3:31 pm
Posted by Winston Cup
Dallas Cowboys Fan
Member since May 2016
66985 posts
Posted on 9/27/18 at 3:30 pm to
quote:

"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.'"


when will dopers learn
Posted by Mr Personality
Bangkok
Member since Mar 2014
27364 posts
Posted on 9/27/18 at 3:35 pm to
No clickable source plus the media is against Musk
Lol at thinking the SEC is some noble organization
Posted by LSUFanHouston
NOLA
Member since Jul 2009
41649 posts
Posted on 9/27/18 at 3:38 pm to
Not surprised
Posted by Jester
Baton Rouge
Member since Feb 2006
34717 posts
Posted on 9/27/18 at 3:41 pm to
quote:

$420 because he had recently learned about the number's significance in marijuana culture


I always kind of assumed there was relevance there.
Posted by Tigertown in ATL
Georgia foothills
Member since Sep 2009
30426 posts
Posted on 9/27/18 at 3:41 pm to
I bet big oil is somehow behind this.
Posted by barry
Location, Location, Location
Member since Aug 2006
51421 posts
Posted on 9/27/18 at 3:43 pm to
quote:

I bet big oil is somehow behind this.


You mean the companies who own all the natural gas which gets converted to electricity?
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
37536 posts
Posted on 9/27/18 at 3:45 pm to
quote:

plus the media is against Musk


Lol

quote:

Lol at thinking the SEC is some noble organization



Love to hear your theory on that.
Posted by Masterag
'Round Dallas
Member since Sep 2014
20260 posts
Posted on 9/27/18 at 3:48 pm to
and there goes the sequel podcast. damnit Elon!
Posted by SeeeeK
some where
Member since Sep 2012
30763 posts
Posted on 9/27/18 at 3:50 pm to
He's in deep doo doo

i was on twitter when he sent out the tweets in question, and as soon as he tweeted them, higher ups in business world were like oh shite, he just broke sec rules and is screwed, delete, bail.

Posted by OweO
Plaquemine, La
Member since Sep 2009
122525 posts
Posted on 9/27/18 at 3:50 pm to
What does the Southeastern Conference have to do with Elon Musk?
Posted by Masterag
'Round Dallas
Member since Sep 2014
20260 posts
Posted on 9/27/18 at 3:51 pm to
quote:

He’s a high functioning moron


ETA: see post below



he's human, we all do dumb shite from time to time. you included.
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