3 ms·
well it turned into a classic no admit no deny settlement this is a much better settlement and easier to swallow. if he had to admit it then the criminal char
by gammateam 8y ago
well it turned into a classic no admit no deny settlement
this is a much better settlement and easier to swallow.
if he had to admit it then the criminal charge would have been emboldened. unfortunately the settlement itself can still be used as ammunition, but it is contains no admission (or denial) of guilt.
- adventured 8y agoThe proposal they previously rejected had an offer of no admission of guilt as well.[1] It's a very slightly worse settlement now, the apparent duration that he is barred from the chairmanship was increased by a year. Most likely Musk wanted the optics of declaring himself innocent, rejecting the offer and feigning a fight. I'd be surprised if everyone around him have not been encouraging him to settle, the downside risk was far too great vs the modest settlement pain. [1] https://www.cnbc.com/2018/09/28/teslas-musk-pulled-plug-on-settlement-with-sec-at-last-minute.html https://www.cnbc.com/2018/09/28/teslas-musk-pulled-plug-on-s...
- jsight 8y agoI've been wondering if he didn't settle because he wanted to gauge the reaction to fighting it out. Like you, I bet there was a lot of pressure put on by stakeholders to negotiate a settlement once it became public.
- yuhong 8y agoI have been thinking of admission of wrongdoing in lawsuits for a while now.