SEC Sues Tesla CEO Elon Musk For Securities Fraud

Viewing 10 posts - 1 through 10 (of 10 total)
  • Author
    Posts
  • #18369
    Super Harley
    Participant

    The SEC filed a law suit against Tesla…

    [article]1087[/article]

    #18371
    TradersCom
    Keymaster

    What did Mom Say? Drugs aren’t funny!
    *MUSK’S TWEET ON $420 PRICE WAS TIED TO #MARIJUANA CULTURE: SEC
    *MUSK THOUGHT HIS GIRLFRIEND WOULD FIND PRICE HUMEROUS: SEC $TSLA via @Lee_Saks

    #18372
    TradersCom
    Keymaster

    Musk said in a statement to CNBC

    “This unjustified action by the SEC leaves me deeply saddened and disappointed. I 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.”

    #18390
    Truman
    Participant

    Elon Musk Does Deal With SEC and Steps Down as Tesla chairman, $40 million in fines

    Elon Musk reached a deal over fraud charges that will see him step down as Tesla’s chairman of the board and pay a $20 million fine, US securities regulators said Saturday.

    “The settlements, which are subject to court approval, will result in comprehensive corporate governance and other reforms at Tesla – including Musk’s removal as Chairman of the Tesla board – and the payment by Musk and Tesla of financial penalties” of $20 million each, the Securities and Exchange Commission said in a statement.

    Musk remain CEO of Tesla and will be ineligible to serve as chairman of the board for a period of three years and will be replaced by an “independent chairman,” while two “independent directors” will also be appointed by Tesla, the SEC said.

    Many would see this as Musk getting off easily as the SEC had sought to bar him from serving as an officer or board member of a publicly traded company.

    #18395
    Super Harley
    Participant

    Well if you wanted to punish shorts Tesla Inc that’s how you do it – just $20 gets you how much?

    NASDAQ: TSLA · October 1, Close $310.70 ▲ 45.93 (17.35%)

    #18399
    Helmholtz Watson
    Participant

    The message is pretty clear slap on the wrist if you want to crush shorts and blame it on impressing a girl is the new excuse that holds up – perfect plan if you wanted to crush shorts

    #18434
    Truman
    Participant

    Tesla and Elon Musk the story that keeps giving:

    Elon Musk mocked and lashed out at the Securities and Exchange Commission in a tweet on Thursday.

    “Just want to that the Shortseller Enrichment Commission is doing incredible work (sic). And the name change is so on point!” Musk wrote in a tweet published at 4:16 p.m. ET.

    Since Musk posted the tweet, Tesla shares have fallen more than 4 percent in after-hours trading, capping off a day that saw the auto company down more than four percent in regular hours.

    Musk’s tweet accused the SEC of working on behalf of investors betting against his company, coming less than a week after he reached an agreement with the agency to settle fraud charges related to a separate Twitter outburst. As part of the settlement agreement, which still awaits judicial approval, Musk will be forced to step down as chairman of the company and pay a $20 million fine. He will remain CEO.

    When ego gets out of control – you don’t know when to zip it Mr Musk

    #18439
    ThePitBoss
    Participant

    Picking up steam on the downside – again on Musk’s tweet

    Tesla Motors Inc NASDAQ: TSLA · October 5, 12:38 PM EDT
    264.79 ▼ 17.13 (6.08%)

    #18465
    Super Harley
    Participant

    After being the worse performing stock 2 weeks in a row on $QQQ and $SPY Tesla Motors is hit again
    NASDAQ: TSLA · October 8, 2:02 PM EDT
    250.33 ▼ 11.66 (4.45%)

    #18485
    Truman
    Participant

    Someone sent me a message about a Saturn Death Cult and Tesla and to join the dots .. no clue but maybe someone can fill me in …

    Says is based on the electric universe theory and the idea that Earth’s sky looked very different in the past, giving rise to ancient cults worshipping different planets and stars. Apparently these cults still exist today and we get all the chaos around us. Debt based control fits in etc etc

    …meanwhile $TSLA has bounced today to $262.50 ▲ 11.96 (+4.77%) so there is that

Viewing 10 posts - 1 through 10 (of 10 total)
  • You must be logged in to reply to this topic.