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SEC Asks Manhattan Federal Court to Hold Elon Musk in Contempt

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Re: SEC Asks Manhattan Federal Court to Hold Elon Musk in Contempt

#141

Post by kelnos »

wmf wrote: post #115
gamblor956 wrote: post #48

Earlier quoted context omitted.

Why? Because remembering to not do things is a restraint that is extremely mentally burdensome and thus difficult to get correct 100% of the time. When you're the CEO of a publicly traded company, getting paid millions in stock comp to run that company, you don't get to use the excuse "it's mentally burdensome". The whole reason they're in that position, getting paid those obscene amounts, is that they're supposed to…

It has been demonstrated countless times that "just don't make mistakes" does not work, has never worked, and will never work. The whole reason bureaucracy exists is because people can't even be expected to consistently follow their own rules, let alone rules that are imposed on them. Every publicly-traded company has a process for shareholder communication but Elon Musk is just out there tweeting whatever comes to h…

This isn't a mistake. Musk is on record saying he doesn't respect the SEC, suggesting he doesn't feel bound by his legal agreement with them. He does this on purpose.

Re: SEC Asks Manhattan Federal Court to Hold Elon Musk in Contempt

#142

Post by xiphias2 »

spectramax wrote: post #3

At this point, the board of directors should just demand deletion of his Twitter account. I admire Elon for his vision, and actually also admire his radical style despite of its unpopular image - I watched the video where he smoked pot on the radio show. It was a really amazing conversation about future of humanity. He just needs to stop tweeting. You may say it’s fixing the symptom, but here if we take Twitter away,…

A part of the development of new Tesla car features, and the deal with Australian battery plant were happening on Twitter with his account. Closing it down would hurt Tesla. The solution is having a reviewer for each tweet, just how Elon and SEC agreed.

Re: SEC Asks Manhattan Federal Court to Hold Elon Musk in Contempt

#143

Post by jacques_chester »

eduah wrote: post #92

Guidance for this year was 350k - 500k. Elon said several times on the call that he thought they could beat the 500k. This is a technicality on not getting approval for a tweet that could unreasonably be interpreted as saying they are definitely hitting 500k 8 months from now. This is stupid. https://twitter.com/_jameshatfield_/status/11001772987230945...

> This is a technicality

It's the law. That's how it works.

Especially if you agreed to it.

Re: SEC Asks Manhattan Federal Court to Hold Elon Musk in Contempt

#144

Post by jacques_chester »

staticautomatic wrote: post #105

I think the answer should be designating official channels like the company's website or an SEC-managed site that you can post to. Everything else gets designated non-official and carries a warning notice saying it's not official so if you wanna trade on it or whatever you do so at your own risk.

Such designations already exist.

Tesla designated Musk's twitter account several years ago.

Re: SEC Asks Manhattan Federal Court to Hold Elon Musk in Contempt

#145

Post by cmurf »

javagram wrote: post #11
jordz wrote: post #6

Can the SEC really do this given the content of this tweet? Surely they can’t seek approval for every tweet about Tesla? What if he says he’s driving home from “the Tesla factory”. Does this count as a breach if he didn’t seek approval?

Musk and his lawyers agreed to the terms of the settlement. The only reason he had to settle in the first place was because he tweeted false, market-moving information via twitter. Maybe Elon should have considered the consequences then. Why didn’t he just hand over his twitter password to a social media manager and stop tweeting once he lost millions of dollars over the last tweet?

Why didn't the lawyers and board require it?

Re: SEC Asks Manhattan Federal Court to Hold Elon Musk in Contempt

#146

Post by danvayn »

mLuby wrote: post #25
spectramax wrote: post #3

At this point, the board of directors should just demand deletion of his Twitter account. I admire Elon for his vision, and actually also admire his radical style despite of its unpopular image - I watched the video where he smoked pot on the radio show. It was a really amazing conversation about future of humanity. He just needs to stop tweeting. You may say it’s fixing the symptom, but here if we take Twitter away,…

Twitter's value is providing a direct connection from people of note to the masses, bypassing newspaper/TV/radio gatekeepers of yesteryear. You could argue whether that itself is good for society, but it is clear from Twitter's usage that people find it valuable.

People definitely find it valuable but im pretty sure it isnt good for society. Influencers earn more followers for portraying psychopathic behaviors than they would for being themselves. And they definitely earn more money for themselves by portraying a lavish unrealistic lifestyle -- it only increases the quality and number of offers they get.

Re: SEC Asks Manhattan Federal Court to Hold Elon Musk in Contempt

#147

Post by oxymoran »

spectramax wrote: post #3

At this point, the board of directors should just demand deletion of his Twitter account. I admire Elon for his vision, and actually also admire his radical style despite of its unpopular image - I watched the video where he smoked pot on the radio show. It was a really amazing conversation about future of humanity. He just needs to stop tweeting. You may say it’s fixing the symptom, but here if we take Twitter away,…

I would rather he just let someone else handle Tesla and focus on SpaceX, Neuralink, and whatever other private ventures. He just isn’t meant to head a public company.

Re: SEC Asks Manhattan Federal Court to Hold Elon Musk in Contempt

#148

Post by [deleted] »

mlindner wrote: post #54
petee wrote: post #21

Earlier quoted context omitted.

Oh, you mean like uphold the law?

How about go after things that actually cause harm? The SEC should stop protecting those who wish to harm Tesla and actually act on behalf of shareholders. The shareholders don't want Elon out. If they did they would have voted him out.

[deleted]

Re: SEC Asks Manhattan Federal Court to Hold Elon Musk in Contempt

#149

Post by eduah »

cat199 wrote: post #110
eduah wrote: post #92

Guidance for this year was 350k - 500k. Elon said several times on the call that he thought they could beat the 500k. This is a technicality on not getting approval for a tweet that could unreasonably be interpreted as saying they are definitely hitting 500k 8 months from now. This is stupid. https://twitter.com/_jameshatfield_/status/11001772987230945...

as stupid as tweeting incorrectly and without legal review when tweeting correctly and with review is essentially your simple, easy to observe, 'terms of parole'?

Actual government legal agency going after someone on a stupid immaterial technicality about requiring approval for disclosing material information that might affect stock: The tweet didn't have material information. The 500k number was public and discussed on a public investor call.

vs.

Crazy guy that bankrupted himself trying to build a rocket company and a car company simultaneously is less than overly cautious about his tweeting and how it could be used in bad faith by a government legal agency in the USA to persecute him.

Re: SEC Asks Manhattan Federal Court to Hold Elon Musk in Contempt

#150

Post by spectramax »

mlindner wrote: post #19
spectramax wrote: post #3

At this point, the board of directors should just demand deletion of his Twitter account. I admire Elon for his vision, and actually also admire his radical style despite of its unpopular image - I watched the video where he smoked pot on the radio show. It was a really amazing conversation about future of humanity. He just needs to stop tweeting. You may say it’s fixing the symptom, but here if we take Twitter away,…

Your comment should have stayed dead, I don't know how you revived it. The board of directors demanding he delete his Twitter account is pointless. He would just refuse. Secondly, this has nothing to do with the FCC. Thirdly, your personal hatred of Twitter is completely off topic.

You’re right - SEC I meant, not FCC.

I’m just speaking my mind, new to this site. Sorry to have disappointed you.

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