Musk backs out of SEC fine agreement

[blwnsmoke]

https://www-cnbc-com.cdn.ampproject.org/v/s/www.cnbc.com/amp/2018/09/28/teslas-musk-pulled-plug-on-settlement-with-sec-at-last-minute.html?amp_js_v=a2&amp_gsa=1#amp_tf=From%20%251%24s&ampshare=https%3A%2F%2Fwww.cnbc.com%2F2018%2F09%2F28%2Fteslas-musk-pulled-plug-on-settlement-with-sec-at-last-minute.html

 

And then there is the best part..

 

Tesla and the board of directors are fully confident in Elon, his integrity, and his leadership of the company, which has resulted in the most successful U.S. auto company in over a century. Our focus remains on the continued ramp of Model 3 production and delivering for our customers, shareholders and employees," said Tesla's board of directors in a statement.

Edited September 28, 2018 by blwnsmoke

[twintornados]

Every time I read an article of just how "ingenious" Elon Musk is...I hear this playing in my mind...

[92merc]

Scenario:

 

SEC gives Tesla and Musk a fine. Kicks Musk out temporarily as CEO. Stock prices drop. Saudi's kick in the money to go private like Musk was tweeting about, but now at a much cheaper price. Musk comes back in as CEO within a year or so.

 

Only thing stopping that from happening is if the SEC goes nuclear and does a lifetime ban on him. Not likely.

[blazerdude20]

https://www.leftlanenews.com/musk-settles-sec-suit-will-pay-fines-and-step-down-as-chairman.html

 

Out as Chairman for three years and total payment of fines and penalty at $40 million.

[jpd80]

Scenario:

 

SEC gives Tesla and Musk a fine. Kicks Musk out temporarily as CEO. Stock prices drop. Saudi's kick in the money to go private like Musk was tweeting about, but now at a much cheaper price. Musk comes back in as CEO within a year or so.

 

Only thing stopping that from happening is if the SEC goes nuclear and does a lifetime ban on him. Not likely.

Musk remains CEO but relinquishes his role as Chairman.