12 ms·
I'm still confused by what sense Elon Musk's statements were knowingly false. My memory of the situation was that the Saudis offered to buy Tesla, and Musk cons
by Zarel 7y ago
I'm still confused by what sense Elon Musk's statements were knowingly false. My memory of the situation was that the Saudis offered to buy Tesla, and Musk considered this to constitute funding being secured. Does "funding secured" have a technical definition that a verbal offer doesn't qualify for, and would Musk be expected to know that difference? I'm asking sincerely; I don't know.
- Hamuko 7y agoThis is what the SEC had to say about it: >In truth and in fact, Musk had not even discussed, much less confirmed, key deal terms, including price, with any potential funding source. >When he made these statements, Musk knew that he had never discussed a going-private transaction at $420 per share with any potential funding source, had done nothing to investigate whether it would be possible for all current investors to remain with Tesla as a private company via a “special purpose fund,” and had not confirmed support of Tesla’s investors for a potential going-private transaction.