Lol, they actually referenced the girlfriend/her amusement in the live complaint.
āThis unjustified action by the SEC leaves me deeply saddened and disappointed,ā Mr. Musk said in a statement. āI have always taken action in the best interests of truth, transparency and investors. Integrity is the most important value in my life and the facts will show I never compromised this in any way.ā
The SEC had crafted a settlement with Mr. Muskāapproved by the agencyās commissionersāthat it was preparing to file Thursday morning when Mr. Muskās lawyers called to tell the SEC lawyers in San Francisco that they were no longer interested in proceeding with the agreement, according to people familiar with the matter. After the phone call, the SEC rushed to pull together the complaint that it subsequently filed, the people said.
If true, I sincerely hope this narcissist loses his company.
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This is the quote from wsj, so must be true.
What a dumbass.
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Musk reportedly refused to sign the deal because he felt that by settling he would not be truthful to himself, and he wouldnāt have been able to live with the idea that he agreed to accept a settlement and any blemish associated with that
This isnāt the reason Musk pulled outā¦this isā¦
However, the settlement would have barred Musk as chairman for two years and would require Tesla to appoint two new independent directors
Heās too much of a narcissist and power hungry to let go, and thinks his only chance at remaining in power is to fight till the end.
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Lucid Motors + Electrify America (AkA VW) close to an agreement on charging networkā¦
> Tesla CEO views SEC securities-fraud allegation as flawed, according to a person familiar with the matter
> Tesla Inc. [US:TSLA] CEO Elon Musk believes he had a verbal agreement in place with Saudi Arabiaās sovereign-wealth fund to help finance a plan to take the auto maker private, according to a person familiar with the matter, a contention that could preview how he will fight regulatorsā accusation that he misled shareholders.
Musk Views SEC Allegation as Flawed https://www.wsj.com/articles/elon-musk-believed-he-had-verbal-agreement-with-saudis-for-tesla-buyout-1538172847
Donāt buy Model 3, its structural design has major flaws. Its āskateboardā type structure is so weak, so incapable (very low torsional rigidity) that the roof glass will develop cracks just after a couple thousand miles, because of excessive torsional stress.
This is not an isolated issue, lots of Model 3 user complaints; simply search keywords like āmodel 3 glass crackā you will see. Here is one long post thread:
https://model3ownersclub.com/threads/roof-glass-stress-cracks-vol-2.7156/
Tesla is an incapable, unqualified and lousy company that makes semi-finished products. It even cannot design/produce a car which roof does not crack.
Elon Musk Can Remain Tesla CEO but Must Step Down as Chairman in SEC Settlement
The company and Musk also have agreed to pay a $40 million fine
That was quickā¦and actually shocking he stepped down as chairman.
He would lose more if he didnāt settle, I think.
The fanbois are saying the SEC, the shorts and big oil are to blame, not Musk. Dude can do no wrong.
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This is what I had predicted would happened based on his actions. I feel sorry for the guy. He is brilliant but I think the stress to deliver, expectation and media is not helping his cause . Although I fully agree that he needs to step down before he completely destroy tesla.
The second the take-private tweet came out, it was pretty clear that everything about it was nonsense. As-is, TSLA is not a buyout candidate - it lacks many characteristics of a buyout target: stable cash flows, under-management, etc. It was mathematically impossible to make the numbers around a buyout work, even assuming existing shareholder roll into the private entity.
Because of this, I said right away that what Musk did amounted to securities fraud through market manipulation. He did this on purpose to burn short-sellers, and for a period of time, it did seem to work. The SECās charges came 2 months after the tweet, which is unusually quick. This means that their case was easy to build and completely airtight.
Having said this, Musk got off extremely easy for what he did. He wound up paying $20mm and relinquishing a largely-ceremonial chairman role in exchange for settling a very serious securities charge and being allowed to keep his job, ultimately helping keep his ponzi scheme of a company alive. Obviously, several billion dollars of bets for and against TSLA stock were affected by his tweet, so heās still facing many other civil lawsuits related to this, and will probably wind up paying them out a considerable amount of money, as well.
Elon Musk is a con and a sociopath. Donāt feel bad for him. His car company, no matter how revolutionary, has never made a cent, and once the Germans turn the assembly line on for their competitors, heāll be out of business. He, in fact, should have been out years ago, if not for the blind āfaithā of his lenders and investors, all of whom bought the fantasy that he and TSLA would change the world, while ignoring fundamentals, profitability and cash flow.
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Did you actually read through that thread? It looks like it is NOT a torsional stress issue.
This statement resulted in the mental image of some SEC guys in shorts covered in oilā¦
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Wow. Tesla went up 17% because of low SEC penalty. Or maybe because investor rejoice bec Musk is done with the company.
Done? who said he was done? heās the CEO!
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