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But it doesn't materially matter if SolarCity was a bad investment, or board members went on vacations together. The shareholders got their money's worth, and t
by rpmisms 3y ago
But it doesn't materially matter if SolarCity was a bad investment, or board members went on vacations together. The shareholders got their money's worth, and then some. The damages should be punitive for any misrepresentations, which is how this case would typically be resolved.
Instead, the judge made FSD jokes in the ruling. I will read the appeal with great interest.
- gpm 3y agoThe shareholders certainly did not get their money's worth. Yes, Tesla did well, but that's not what the shareholders purchased, what the shareholders purchased was Elon as CEO - something that by all evidence presented was available for free. Moreover they did so after being deceived by a board (unbeknownst to them) controlled by Elon. Elon tried to scam them out of his money, he failed. I wouldn't want to invest in a company in a state where this sort of scam would succeed.
- rpmisms 3y agoThe shareholders purchased Tesla stock at $18, and voted on Elon getting a ton of money if he made them a ton of money. That's the representation that matters here, and it turned out extremely accurate.
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- deleted 3y ago[deleted]
- almatabata 3y ago> But it doesn't materially matter if SolarCity was a bad investment, or board members went on vacations together. It does matter in as much that you could make the case that, had they not bought solar city the company might have performed better.
- rpmisms 3y agoIt doesn't materially matter to the lawsuit.