, alluded to the case during an appearance on Thursday at a TED conference in Vancouver, Canada, during which he referred to Securities and Exchange Commission regulators as “bastards.”
Musk was sued by Tesla shareholders after the value of the stock plummeted following his now-infamous tweet.“Tesla was in a precarious financial situation. And I was told by the banks that if I did not agree to settle with the SEC that they would, the banks would cease providing working capital and Tesla would go bankrupt immediately.”
His August 2018 tweet sparked a firestorm on social media — and a rap on the knuckles from federal regulators.AFP via Getty ImagesThe SEC charged Musk with fraud for his tweet, , his stepping down as chairman of Tesla and a requirement that his tweets be vetted by company lawyers.
I got out of Tesla and Bitcoin because elonmusk would Tweet causing the market to go up or down. It appeared to be classic market manipulation. Since I had no power to investigate I sold both at a profit. I believe without his reckless Tweets I would have made more. Liar
when a guy shoots up the NYC subway, the headline is 'Man allegedly shoots people' when journalism has an agenda, the allegation formulated in a law suit becomes fact with the snap of a pixel. good show.
Lawsuits have been a fashion in America in order to make money without putting in any effort.
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