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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
OP
OP
Wish he'd lost his CEO role. But Musk is an asshole few can deny is an asshole anymore and his stans look worse than they previously did, so at least this wasn't a total bust
Looks like someone talked some sense into him.
He still gets to be CEO as well so it's about the best case scenario for him considering this was his own damn fault.
He still gets to be CEO as well so it's about the best case scenario for him considering this was his own damn fault.
Oh damn he gotta resign too. Probably for the best honestly lol
Edit: ok he gets to stay on but isn't chairman right? Well hopefully this lets the guy pull his head out of his ass and focus on priorities
Edit: ok he gets to stay on but isn't chairman right? Well hopefully this lets the guy pull his head out of his ass and focus on priorities
Why does every news story have to be about a reaction someone is looking forward to within a certain subset of this community?
I'm surprised the SEC agreed to something after Tesla tore up the first deal
Tesla has to pay $20 million and Musk himself has to pay $20 million. I had to read it over a couple times, the phrasing is a little confusing
Best case scenario for him and Tesla. They can survive a 20 million dollar hit, but the publicity would be terrible for them to lose Musk as CEO.
It looks like he's paying one personally and Tesla is paying a fine as well.
This is honestly very bullish for the company. Musk stays on as CEO, the board becomes more of a check against him. The stock will probably pop from $265 to $290-300 on Monday. About the best outcome possible for Tesla. It makes me sick that I didn't buy at $260 around 3 p.m. on Friday. I thought about it, it was historically a good price, but the reports were Musk had turned the settlement down, so I couldn't anticipate that he'd change his mind.
Would this investigation really open up his finances and stuff?
If so I can imagine why he wanted to end this quick lol
If so I can imagine why he wanted to end this quick lol
A majority of investors want more checks on Elon, this settlement is generous and will help Tesla.
From the SEC filing:
"Musk and Tesla will each pay a separate $20 million penalty. The $40 million in penalties will be distributed to harmed investors under a court-approved process"
"Musk and Tesla will each pay a separate $20 million penalty. The $40 million in penalties will be distributed to harmed investors under a court-approved process"
It's not just Musk. It's just about everything.
Someone could invent a working teleporter tomorrow and one of the first posts on the first page would be "man, can't wait to see what the 'teleporters will never work' shills have to say!".
The SEC just wanted compliance.
The Diver in the slander case will want his pound of flesh from Elon. Expect that to have more 0s if it settles.
