3 ms·

Page 21: "Prayer for Relief" interesting that this kind of language is accepted legalese par. 80.IV and 80.V seeks both civil penalties and removal from offic

Page 21: "Prayer for Relief" interesting that this kind of language is accepted legalese par. 80.IV and 80.V seeks both civil penalties and removal from office. Is it feasible that Musk/Tesla can negotiate only penalties, thus keeping him on the board? Given Musk's position of power over the board, and importance to the company, I could see the board agreeing to it, but would the government.

ubernostrum 8y ago
Don't forget that in a handful of places literal prayer is still part of legal procedure. For example: https://guernseypress.com/news/2016/12/15/man-raises-clameur-de-haro-to-stop-planners/ https://guernseypress.com/news/2016/12/15/man-raises-clameur... The procedure used there: https://en.wikipedia.org/wiki/Clameur_de_haro https://en.wikipedia.org/wiki/Clameur_de_haro
adrianmonk 8y ago
The language doesn't surprise me particularly. "Pray" is an old word that means to ask. Hence "prithee", which is kind of a mashed together "pray thee" (which means "ask you"). And "prayer" is noun form of that verb. Yes, the words are really old (archaic-sounding if not actually archaic), but that happens all the time in legalese. And yes, they have religious connotations, but they are also used in secular ways. For example, from Shakespeare's "Romeo and Juliet": "I pray thee, good Mercutio, let's retire: The day is hot, the Capulets abroad".
- Tomte 8y ago
  I first came across "pray" (as a non-native speaker) through Sherlock Holmes. "Pray sit down" is ubiquitous in his stories.
rst 8y ago
Per WSJ reporting, they already had negotiated some sort of settlement, presumably with milder action toward all concerned, and then the Tesla side blew up the deal at the last minute, resulting in the SEC's hurried drafting and filing of the complaint we have now. As a procedural matter, they probably could still settle the case if both sides agreed to do that. But the best deal Tesla could get now is almost certainly worse than what was on offer Monday -- particularly since the case against Musk looks awfully close to open-and-shut. (The case: 1) He said he had funding secured, 2) he didn't, and 3) the result was to run up the stock price to his personal benefit. 1) and 3) are matters of easily accessible public record; as for 2), Musk thought he could get the money from the Saudi government's "sovereign wealth fund", which was thinking about formally providing it, but had absolutely not agreed to do so. During the BFR announcement, Elon talked pretty frankly about his habit of promising best-case outcomes to give people something to shoort for -- but when it comes to public statements about company financials, it's a very, very, very bad idea.)
- tinkerteller 8y ago
  It's not going to be open-and-shut if for whatever magical reasons Saudis come back and decide to corroborate on Musk's statement.

ubernostrum 8y ago

Don't forget that in a handful of places literal prayer is still part of legal procedure. For example: https://guernseypress.com/news/2016/12/15/man-raises-clameur-de-haro-to-stop-planners/ https://guernseypress.com/news/2016/12/15/man-raises-clameur... The procedure used there: https://en.wikipedia.org/wiki/Clameur_de_haro https://en.wikipedia.org/wiki/Clameur_de_haro

adrianmonk 8y ago

The language doesn't surprise me particularly. "Pray" is an old word that means to ask. Hence "prithee", which is kind of a mashed together "pray thee" (which means "ask you"). And "prayer" is noun form of that verb. Yes, the words are really old (archaic-sounding if not actually archaic), but that happens all the time in legalese. And yes, they have religious connotations, but they are also used in secular ways. For example, from Shakespeare's "Romeo and Juliet": "I pray thee, good Mercutio, let's retire: The day is hot, the Capulets abroad".

Tomte 8y ago
I first came across "pray" (as a non-native speaker) through Sherlock Holmes. "Pray sit down" is ubiquitous in his stories.

rst 8y ago

Per WSJ reporting, they already had negotiated some sort of settlement, presumably with milder action toward all concerned, and then the Tesla side blew up the deal at the last minute, resulting in the SEC's hurried drafting and filing of the complaint we have now. As a procedural matter, they probably could still settle the case if both sides agreed to do that. But the best deal Tesla could get now is almost certainly worse than what was on offer Monday -- particularly since the case against Musk looks awfully close to open-and-shut. (The case: 1) He said he had funding secured, 2) he didn't, and 3) the result was to run up the stock price to his personal benefit. 1) and 3) are matters of easily accessible public record; as for 2), Musk thought he could get the money from the Saudi government's "sovereign wealth fund", which was thinking about formally providing it, but had absolutely not agreed to do so. During the BFR announcement, Elon talked pretty frankly about his habit of promising best-case outcomes to give people something to shoort for -- but when it comes to public statements about company financials, it's a very, very, very bad idea.)

tinkerteller 8y ago
It's not going to be open-and-shut if for whatever magical reasons Saudis come back and decide to corroborate on Musk's statement.