4 ms·
thats the understatement of the century but true. abdicating your responsibility for a discovery phase during an acquisition is tantamount to fraud in the Unit
by nimbius 4y ago
thats the understatement of the century but true. abdicating your responsibility for a discovery phase during an acquisition is tantamount to fraud in the United States, but when he started to drag his feet and publicly proclaim a "hold" on the twitter deal due to spam accounts, it likely started triggering investigation into securities fraud. Musk may have wound up in the frying pan, but he didnt exactly do much to turn down the heat.
The court of public opinion is a bully pulpit for the wealthy elite but only if its the public opinion you intend to sway. Elon was about to start taking swings at investors and board members, who arent generally moved by public bloviation or jingoist egocentrism. Chancery court didnt last long but im sure it was a sobering experience for such a cloistered elite, assuming the near constant looming presence of the SEC hasnt rattled his bones enough.
- mlyle 4y ago> abdicating your responsibility for a discovery phase during an acquisition is tantamount to fraud in the United States, Skipping due diligence is the buyer's option. It may be irresponsible if you're using other people's money (especially money from public capital markets), but there's nothing that obligates me to closely look at an asset that I'm buying with my money or even my money and my buddies' money that they pledged.