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No, under the settlement he gets to claim perpetual innocence (ie. no intention of doing $420 on purpose). For him 10m is spare change, so long as it means he g
by kirillzubovsky 8y ago
No, under the settlement he gets to claim perpetual innocence (ie. no intention of doing $420 on purpose). For him 10m is spare change, so long as it means he gets to maintain integrity.
Also, as reported in another article, this non-admission of guilt makes it much harder for the DOJ to go after him with a criminal case.
- village-idiot 8y ago$10m cash is absolutely not spare change for someone as leveraged as him, ditto for Tesla.
- vilhelm_s 8y agoAccording to the article, the settlement does not let him proclaim innocence (but it doesn't require him to admit guilt). As I read the article, this part was the unchanged between the SEC's first offer and the eventual settlement.
- desdiv 8y agoExactly. The original deal was: 1. No admission of guilt 2. Bar from chairmanship for 2 years 3. $10 million fine for Musk and $10 million fine for Tesla The final deal was: 1. No admission of guilt 2. Bar from chairmanship for 3 years 3. $20 million fine for Musk and $20 million fine for Tesla So the 48 hour delay brought Musk nothing in return. [0] https://www.theverge.com/2018/9/29/17918252/elon-musk-tesla-sec-securities-fraud-lawsuit-settlement-fine-penalty https://www.theverge.com/2018/9/29/17918252/elon-musk-tesla-... [1] https://www.nytimes.com/2018/09/28/business/elon-musk-tesla-sec-deal.html https://www.nytimes.com/2018/09/28/business/elon-musk-tesla-...
- Asparagirl 8y agoImportantly, both deals also require adding two new independent directors to the Tesla board. Who will, one presumes, get to see the company’s books, and then vote on what to do about those numbers.
- deleted 8y ago[deleted]