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I think Musk sees his tweet as "I have a possible buyer". Funding was secured in the sense that the potential buyer had the funds.
by rohit89 8y ago
I think Musk sees his tweet as "I have a possible buyer". Funding was secured in the sense that the potential buyer had the funds.
- JumpCrisscross 8y ago> Funding was secured in the sense that the potential buyer had the funds Refusing the settlement was stupid. Not only is he likely to lose, almost any defense will rely on him showing he didn't understand the words "funding secured" which will then open Tesla up to shareholder lawsuits.
- rohit89 8y agoDefinitely stupid. I want to know what his lawyers think of this. Surely they would have impressed on him the odds of success if it went to trial. How long will SEC case take?
- hef19898 8y agoGood luck with that line of defense.
- compcoffee 8y ago>Funding was secured in the sense that the potential buyer had the funds. If you're blind to this whole story, I suppose you could believe that. Who was the "potential buyer"? We heard VW and the Saudi fund, both who said it was nonsense. Beyond that, according to the complaint, nothing was discussed with the board and there was no possibility that small shareholders could remain (or institutional investors for that matter) if Tesla went private. There was no discussed price. Musk wanted to "burn the shorts"; he was trying to do so for months. Whoops. And have you considered that this is only just beginning? I mean, it's not impossible that this blows over, but it's also possible -- with a DOJ investigation ongoing-- that this whole thing implodes. The world is tiring of the games Silicon Valley plays.
- rohit89 8y agoMusk was talking about the Saudis - they were the ones who showed interest. The saudis had the money for whatever. It was upto to Musk/Tesla to make it happen. I definitely think he should have taken the deal. The tweet was reckless.