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Does anyone else get the feeling these shareholders are shooting themselves in the foot by wasting Elon's time with this lawsuit? Or is it that this is fueled b

Does anyone else get the feeling these shareholders are shooting themselves in the foot by wasting Elon's time with this lawsuit? Or is it that this is fueled by a competitor? Sure it's not great if Elon used his power/influence to push the Solar city transaction, but Elon has created and will continue to create so much value for shareholders, surely it's in everyone's best interest to let him focus on building better products instead of distracting him with this noise?

thefj 7y ago
He bought a falling company from himself and his cousins for almost 3 billion, plus the company had 3 billion in debt. The deal resulted in him getting half a billion more in tsla stock. Tesla's market cap in June 2016 was 35 billion. It's 43 billion now. That's not that much value created. The S&P went up almost 50 percent in that time. It's all besides the point anyway, since many shareholders sold their shares because of this fraud. They don't care what he's doing now, they just want their money back. It's in everyone's best interest to have checks on self dealing CEOs. If people can't trust public companies to behave, the whole system breaks down.
- jmpman 7y ago
  Isn’t that what the board is for?
  - AndrewBissell 7y ago
    The Tesla Directors are paid many multiples of the average at other comparable companies so that they will not question or push back against Elon Musk, and they include many personal friends and even his brother, who has no qualifications whatsoever to sit on the Board of a major automaker.
newnewpdro 7y ago
Presumably there's a substantial contingent of shareholders who disagree with you and see Musk as a liability to the value of their TSLA stock, and want him out before it's too late.
rcMgD2BwE72F 7y ago
One can be long 1 share and simultaneously be short 1000 the same stock, and claim the right to sue the company or its management as a "shareholder". Worst, the SEC consider short sellers to be investors and defend them as if they were actual shareholders.

thefj 7y ago

He bought a falling company from himself and his cousins for almost 3 billion, plus the company had 3 billion in debt. The deal resulted in him getting half a billion more in tsla stock. Tesla's market cap in June 2016 was 35 billion. It's 43 billion now. That's not that much value created. The S&P went up almost 50 percent in that time. It's all besides the point anyway, since many shareholders sold their shares because of this fraud. They don't care what he's doing now, they just want their money back. It's in everyone's best interest to have checks on self dealing CEOs. If people can't trust public companies to behave, the whole system breaks down.

jmpman 7y ago
Isn’t that what the board is for?
- AndrewBissell 7y ago
  The Tesla Directors are paid many multiples of the average at other comparable companies so that they will not question or push back against Elon Musk, and they include many personal friends and even his brother, who has no qualifications whatsoever to sit on the Board of a major automaker.

newnewpdro 7y ago

Presumably there's a substantial contingent of shareholders who disagree with you and see Musk as a liability to the value of their TSLA stock, and want him out before it's too late.

rcMgD2BwE72F 7y ago

One can be long 1 share and simultaneously be short 1000 the same stock, and claim the right to sue the company or its management as a "shareholder". Worst, the SEC consider short sellers to be investors and defend them as if they were actual shareholders.