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You can't lie to investors, that's securities fraud. He's lucky he wasn't facing criminal charges.
by empath75 8y ago
You can't lie to investors, that's securities fraud. He's lucky he wasn't facing criminal charges.
- rcMgD2BwE72F 8y agoWhat was the lie exactly? "Funding secured" after the Saudi repeated multiple times that they would pay cash for the operation – which was refused repeatedly in the past by Elon himself? Since most shareholders wanted to remain, the cost of the operation was estimated to be below $20B so who doubt that the funding wasn't secured?
- sah2ed 8y agoMatt Levine's Money Stuff [0] is a great read on problem with Musk's "funding secured" tweet. [0] https://www.bloomberg.com/view/articles/2018-08-13/funding-for-elon-musk-s-tesla-buyout-wasn-t-so-secure https://www.bloomberg.com/view/articles/2018-08-13/funding-f...