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Elon Musk and SEC reach settlement on fraud charges (resigns as Chairman, stays on as CEO, 20m fine)
- Thread starter Shard Shinjuku
- Start date
A CEO that's so careless about his own company should make you think about the care he puts into his cars
"Fuck all y'all! You can't do that! I'm the CEO! "
"Not any more."
I give it a month.
I guess there's some small bit of satisfaction to be taken from seeing the people who are most sure of something be proven wrong. Especially when they're dicks about it (not calling anyone out. Just saying in general).
The CEO represents the company to the board of shareholders and the chairman represents the shareholders to the company. So yeah.
well great time to buy tesla. this quick resolve of this episode combined with musk staying as ceo will bring back those people that sold the stock on friday in droves,
This really isn't even a slap on the wrist. $40 million is nothing for a $50 billion company, and Musk stays on as CEO. I'm cheering for Tesla as a company, but Musk fucked up badly and the SEC needed to show that this was a serious offense. They could've easily won that case. I can see that the SEC thought it could have sunk the company if they pursued the case and harmed the company's investors, so they settled.
At the same time it's a bigger fine than any CEOs of big banks paid for ruining the economy in 2008.
Hey, I just enjoy laughing at Musk's fanboys, got nothing against teleporters-will-never-work shills!
Let's not forget that zero people went to jail over what happened in 2008.
Honestly, I'm happy that there is a statement in that settlement which mandates the board approve all of Elon's communications. Maybe we can get less stupid fucking tweeting now.
Of course all the people with hate-boners for Elon here on this site will be sad when he actually doesn't say anything they can constantly shit on anymore. How ironic will that be.
So this is like a 3 year probation. If he keeps running his mouth the board could fire him as CEO now, right?
Saving humanity by resigning as chairman of his own luxury car company because he can't control himself.
I would actually be very happy if he kept his mouth shut and provided results like what one expects from a CEO of a luxury car company instead of accusing strangers of being pedophiles.
Well no shit, people have been trying to tell him to stop the stupid-ass tweeting for the whole year now. It's sad that it had to come down to an SEC settlement over false and misleading statements to investors in order for an actual muzzle to maybe finally be put on him instead of, you know, just shutting the fuck up already on Twitter.
People who rightfully criticize Musks dumbass actions, or as you call them, "haters", at least don't look as bad as you right now:
Really weird chains of events. Probably his lawyers already begged him to accept the initial offer from the SEC.
Also this is quite relevant:
Tesla should really improve its corporate governance, is not a company owned by Musk exclusively and he can't do whatever he wants with the company. Also, having an independent chairman will prevent idiotic moves like buying Solar City to bail out his cousin.
Also relevant:
Also this is quite relevant:
Tesla should really improve its corporate governance, is not a company owned by Musk exclusively and he can't do whatever he wants with the company. Also, having an independent chairman will prevent idiotic moves like buying Solar City to bail out his cousin.
Also relevant:
All the Musk-stans who were screaming to everyone that nothing would happen and Musk was innocent look SO STUPID right now...
I will never understand people who stan for someone who clearly does not give a fuck about them.
the master brain lord pulls an incredible 12th dimensional chess move. come back in 10 years to observe the true genius of this move
This has been the weirdest sequence of events. We have people going from "lol it's nothing" to "I never said it was nothing!" to "I'm glad somebody's putting reins on him" to "you haters sure are idiots." That's some amazing backpedaling and mental gymnastics, holy hell.
What's he guilty of? Be specific. What does the settlement state he is guilty of?
He's so innocent that he will pay $20m and resign to prove it.
