4 ms·
It's pretty simple. Musk was hounded by short sellers who bet billions against Tesla and then spread patently false information about the company's activities a
by 11thEarlOfMar 8y ago
It's pretty simple. Musk was hounded by short sellers who bet billions against Tesla and then spread patently false information about the company's activities and prospects[1]. Musk has one of those asymmetric senses of fairness (like the one that drove Gates to tears during Microsoft's anti-trust trials) that lost all faith in the SEC as it stood by and did nothing about what he felt was clearly illegal behavior.
In his mind, he was treated 'super unfairly' by bullies while the guardians stood by and did nothing. He really dislikes them for that.
Is his open disrespect a mature response? No. It's idealistic if not naive and he could be about to find out that the SEC does have teeth.
[0] https://www.theregister.co.uk/2000/10/25/inside_the_ms_trial_part_2/ https://www.theregister.co.uk/2000/10/25/inside_the_ms_trial... (sorry, couldn't find a better source)
[1] ?
"The SEC similarly should be leading the charge against purveyors of short-and-distort schemes. Unfortunately, the commission inexplicably has been reluctant to do so.Just like a pump-and-dump, a short-and-distort scheme violates the Securities Exchange Act antifraud provisions, as well as SEC Rule 10b-5. In fact, it has brought hardly any enforcement actions targeting this conduct."
- mikejb 8y agoJust as a heads-up: Your 2nd link doesn't work for anybody but you (references a file on your local machine), and leaks your user name on that machine. Maybe this is the link you wanted to post (contains the quote you posted): https://www.dlapiper.com/~/media/files/people/weiner-perrie/weinerweberhsu.pdf https://www.dlapiper.com/~/media/files/people/weiner-perrie/...
- dgellow 8y agoMaybe dang or another admin could fix his comment? Or at least remove the personal information (first name, last name).
- eitland 8y agoFlagged (for moderator attention, not for deletion)
- 11thEarlOfMar 8y agoThank you.
- deleted 8y ago[deleted]
- anth_anm 8y agoShorts don't have access to material information. They can do what they want. He lied to investors to pump the stock. It was blatant.