Tesla bankruptcy?

Sounds like Mercedes is creating cars to compete with Tesla…from 2012…

Looked another way…

Another proposal from Elon that hasn’t happened yet.

More rats fleeing the ship that is Tesla’s finance department. Maybe they know the SEC is closing in on something?
https://www.bloomberg.com/news/articles/2018-09-12/tesla-s-finance-team-is-said-to-be-losing-another-top-executive

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Be careful what you wish for :face_with_raised_eyebrow:

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Dante-Musk says they have moved from production hell to delivery hell. Nice progress - 2 circles passed, 7 circles of hell left…

They should have continued providing their technology to Mercedes and made money on it. But they cancelled that in 2016. If the had continued doing that, Tesla could have amassed some good money to invest in Model 3, leaving MB to use Tesla’s tech in the GLS

Speaking of which… with north of $100K in my pocket, I would rather have a GLS 550 (or AMG) than a Model X :slight_smile:

Sad thing is, they’ll settle. 75k is a pocket full of change to you or I.

Strange he is only asking for $75k. Usually these lawsuits start with outrageous numbers to be settled into something more reasonable. For being forever known as a a Pedo Guy, it almost seems like he is not very bothered by it.

It’s symbolic for the guy.

Tesla didn’t have a choice in the matter; MB saw that they could bring both battery and electric vehicle research, development, and production in house and divested after they finished their work on the electric B class. It’s not like Tesla walked away from future work from MB, but rather MB deciding that they should also move into the EV world on their own two feet.

Agreed 100%. The diver doesn’t see this as paydirt, he sees it as setting the record straight and not letting somebody getting away with slander.

He is not seeking only $75,000. Since he is suing in Federal Court, he needs to allege damages of at least $75,000 in order for the Court to have jurisdiction. During the actual litigation, he can ask for and recover any amount he can prove, even if well in excess of $75,000.

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I highly doubt this will go to court. They will settle before that happens.

ruh roh

https://www.bloomberg.com/news/articles/2018-09-18/tesla-is-said-to-face-u-s-criminal-probe-over-musk-statements

The SEC said he had not actually secured the funding.

Here’s my shocked face.

EDIT: Tomorrow’s gonna be rough for TSLA…
After hours 276.00 −31.52 (10.25%)

EDIT2: The fanbois are trying their damndest to defend their Holiness. Some are asking how to countersue the SEC lol.

Some things from the lawsuit (found here: PacerMonitor Document View - 1:18-cv-08865 - United States Securities and Exchange Commission v. Musk, Docket Item 1)

Musk blamed his girlfriend for the 420 price point.

  1. 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 transactions. 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.”

If found guilty, he will have to step down from his CEO position at Tesla and is prohibited from acting as any sort of CEO for any company:

V. Ordering that Defendant be prohibited from acting as an officer or director of any issuer that has a class of securities registered pursuant to Section 12 of the Exchange Act [15 U.S.C. § 78l] or that is required to file reports pursuant to Section 15(d) of the Exchange Act [15 U.S.C. § 78o(d)]

Two words… funding secured!!!

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That’s big for 2 reasons, provided there isn’t a settlement agreement (if that’s even possible for the SEC):

  1. many predicted a fine and slap on the wrist, nothing more

  2. I think that would decimate the stock…at least in the short term while things get ironed out.

SEC Press Conference Live!

https://www.sec.gov/video/live/213232-press-conference-092718.htm