Posted on 09/27/2018 2:57:51 PM PDT by rb22982
Regulators accuse him of misleading shareholders when he said he had funding for a corporate buyout
Securities regulators on Thursday sued Elon Musk for fraud and sought to remove him from Tesla Inc., TSLA -0.67% raising doubts about the future of an electric-car maker synonymous with the audacious entrepreneur.
The SEC’s lawsuit—sparked by Mr. Musk’s August comments that he had lined up funding for a corporate buyout—seeks civil penalties against Mr. Musk and asks a court to bar him from being the officer or director of a public company. [Emphasis mine]
“These misleading statements, none of which were pre-cleared or reviewed by anyone at Tesla, caused significant market confusion and disruption,” said Steven Peikin, the SEC’s co-director of enforcement.
(Excerpt) Read more at wsj.com ...
So the SEC is intent on forcing Musk to take it private. He'll do it.
Stock is droping faster than the charge in a tesla driving to vegas with the air on hi a in the summer time
A:The prick is on the outside of a porcupine !
It is not going to be easy to do without a full tender, which would require a TON of debt, which he won’t get. Normal people cannot hold private securities like that.
So it just got $6.8 billion cheaper for Musk to buy it. Don't throw old Brer Elon into that briar patch.
I thought you were joking so googled their stock, off a cliff.
Musk was sooooo high he forgot Obama is not President anymore
He was the Golden Boy, until one day he pointed out of British homo pedophile. That is the third rail because it hits too close to DC. What’s the 90 days later, he gets prosecuted.
at $266.00 right now. -43.62
1) within trading hours
2) if you do announce in trading hours, you have to let your listing exchange (Nasdaq or NYSE) know at least 30 minutes in advance and they will HALT your stock before the announcement goes out.
3) You nearly always HEDGE things that are even a given if there is a remote chance and you have disclosures out the butt with these things. What he did is pure fraud.
No one has ever accused Elon of being normal.
We should have shorted Tesla stock.
I wonder how many members of Congress did just that?
I’m sure that you are 100% correct but I hate what the SEC is doing to Musk.
The man is national treasure.
Accredited Investors
Private stock can only be sold to accredited investors, unless the investors meet specific requirements as non-accredited investors. An accredited investor is an individual who has a net worth higher than $1 million, excluding the value of her primary residence. Or, she may qualify if she has annual income in the previous two years higher than $200,000 or, if married, $300,000 in combined spousal income, and expects to maintain that level for the following year. A director, executive officer or general partner of the company issuing the securities is also considered an accredited investor.
No he’s not. He’s used public company money to fund every company he has run and still never run a profit. Just because he’s done better than Solyndra doesn’t mean anything. He thinks big and is great at self promotion.
Yeah, because we know how seriously the federal government and the SEC takes this rules. All those Bankers that went to jail after 2008... Oh wait
He’s a leftist who has bilked the tax payer for billions.
You realize how blatant and in public this was for violating Reg FD much less fraudulent? Most of what the banks did became legal, albeit unethical, with the 1994 and 1999 banking “reforms.”
Next step...taking Tesla private.
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