Elon Musk Charged With Fraud

Flyn

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Tesla CEO Elon Musk has been sued by the Securities and Exchange Commission for fraud, according to court documents filed Thursday. Sources close to the company told CNBC the company was also expecting to be sued, though Tesla was not named as a defendant in the complaint.

Shares of the automaker fell roughly 11 percent in extended trading Thursday. The stock is roughly 30 percent below its 52-week high of $387.46.

The SEC complaint alleges that Musk issued "false and misleading" statements and failed to properly notify regulators of material company events. The SEC held a press conference Thursday night regarding the complaint.

Among other remedies, the SEC is seeking to bar Musk from serving as an officer or director of a publicly traded company if found guilty.
https://www.cnbc.com/2018/09/27/tesla-falls-4percent-on-report-elon-musk-sued-by-sec.html
 

Spivitz

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He needs to smoke more weed
 

Marko

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Apple should also be charged for “false and misleading”

Lol.

I do like the iPhones and iPads though
 

Ryan02Stang

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Don’t know why he went public in the first place. Being a public company is awful!

He’s gotta go, can’t have a CEO talking like this.
 

Spivitz

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Elon has anxiety, this is not helping
 

Blood on Blood

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So, ah, do this mean the P100D crash in value? Say, down to $20k?

Anyone?
Anyone?
 

Blood on Blood

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The guy is building effective electric vehicles (better than ICE vehicles/no need for oil), digging tunnels (better infrastructure), launching rockets into space (World leaders no longer control space), thinking of ways to make endless knowledge seamless / instanteous to acquire and absorb (Society no longer enslaved/dependent), etc.

The Govt and Big Business does not want him to continue down this path.

This BS charge is a warning shot to stop.

We shall see if he responds as a Wolverine or as a Sheep.
 

andreydots

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No, hes just a fucking idiot when it comes to acting as head of a company. The government could give a fuck about his companies, shit they sign contracts with SpaceX. As a leader of Tesla he's done a pretty terrible job trying to turn it into a volume production company.

"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.'"
 

lastls1

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I think the man is straight up overwhelmed. Maybe he would be better as the brains behind the company and not the face? Idk. He has a serious following much like Apple.

Tesla is literally the apple of the car industry. Shits flashy, looks better than most cars, is faster than most cars, and has gas car like range in a package that people enjoy looking at.

I would not wish a man like him to fail or be removed. It would set us back a lot.
 

andreydots

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I agree, I think he's trying to take on too much and just honestly cannot handle it. He's in charge of what, 3 companies now? SpaceX or Tesla on it's own is a massive undertaking. He ought to find a way to cede some control of either. Ideally Tesla, the stories of his manufacturing decisions in automotive are mind boggling.
 

MrDragster1970

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Kind of reminds me of PRESIDENT Trump.
Does a lot of things brilliantly, but his big mouth & attention whore idis makes him look like an idiot.

IIRC he went public because he needed all the dough to expand.


.
 

Bruce Jibboo

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He seemed pretty choked up at times trying to give this pretty small speech a week ago. I say let someone else be the CEO front and allow him to continue advancing and applying himself on the engineering side where he knows he belongs and can freely chief the lettuce. Just shows how taboo it still is and a shame the slow and stupid stock traders sold off after that interview.

https://www.youtube.com/watch?v=zu7WJD8vpAQ
 

radioguy6

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he didn't even inhale :rofl:. But agreed he should step down, not everyone is qualified to be a CEO and that's perfectly okay. His brainpower can be used more efficiently elsewhere.
 

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