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[Updated w/ Elon's statement] Tesla CEO Elon Musk dragged to court by SEC for Fraud

2 hours ago, yian88 said:

This case will be closed very fast due to the fact that a tweet has no legality.  If a CEO of any company says stupid things on social media that arent the company's official/legal decisions he may be fired as CEO for poor behaviour but cant be sued for fraud thats a stretch of the law.

In case of Musk they cant fire him. I think Musk needs some time off to cool his head and to be brought back on earth from his Mars mental adventures.

Quote

"A chairman and CEO of a public company has important responsibilities to shareholders," Stephanie Avakian, co-director of the SEC's division of enforcement, said during the press conference. "Those responsibilities include the need to be scrupulous and careful about the truth and accuracy of statements made to the investing public, whether those statements are made in traditional forms such as a press release or an earnings call or through less formal methods such as Twitter or other social media."

The SEC disagree with you on that one.

 

It's against the rules to knowingly make an inaccurate statement to the public that might have an impact on the companies share price. The rules are there to protect the public from companies affecting share prices by making inaccurate statements.

 

By doing this the SEC will argue Elon attempted to defraud his shareholders by deliberately making statements he knew were inaccurate in order to manipulate his own companies share price.

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2 hours ago, yian88 said:

This case will be closed very fast due to the fact that a tweet has no legality.  If a CEO of any company says stupid things on social media that arent the company's official/legal decisions he may be fired as CEO for poor behaviour but cant be sued for fraud thats a stretch of the law.

In case of Musk they cant fire him. I think Musk needs some time off to cool his head and to be brought back on earth from his Mars mental adventures.

Why not? It has even legality than a testimony of someone saying he said it privately. Except in this case it could have influenced financial markets.

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15 hours ago, BuckGup said:

Do they have evidence outside of a tweet? Is a tweet even legal to say that person said it because anyone could have posted that from his account. If he would have come out on stage in front of an audience and news and said we are going private that's another thing. I don't know how this legally works though

It's his account, if he didn't write it he should at least have publicly denied it.

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Just a list of my personal scores for some products, in no particular order, with brief comments. I just got the idea to do them so they aren't many for now :)

Don't take these as complete reviews or final truths - they are just my personal impressions on products I may or may not have used, summed up in a couple of sentences and a rough score. All scores take into account the unit's price and time of release, heavily so, therefore don't expect absolute performance to be reflected here.

 

-Lenovo Thinkpad X220 - [8/10]

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A durable and reliable machine that is relatively lightweight, has all the hardware it needs to never feel sluggish and has a great IPS matte screen. Downsides are mostly due to its age, most notably the screen resolution of 1366x768 and usb 2.0 ports.

 

-Apple Macbook (2015) - [Garbage -/10]

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From my perspective, this product has no redeeming factors given its price and the competition. It is underpowered, overpriced, impractical due to its single port and is made redundant even by Apple's own iPad pro line.

 

-OnePlus X - [7/10]

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A good phone for the price. It does everything I (and most people) need without being sluggish and has no particularly bad flaws. The lack of recent software updates and relatively barebones feature kit (most notably the lack of 5GHz wifi, biometric sensors and backlight for the capacitive buttons) prevent it from being exceptional.

 

-Microsoft Surface Book 2 - [Garbage - -/10]

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Overpriced and rushed, offers nothing notable compared to the competition, doesn't come with an adequate charger despite the premium price. Worse than the Macbook for not even offering the small plus sides of having macOS. Buy a Razer Blade if you want high performance in a (relatively) light package.

 

-Intel Core i7 2600/k - [9/10]

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Quite possibly Intel's best product launch ever. It had all the bleeding edge features of the time, it came with a very significant performance improvement over its predecessor and it had a soldered heatspreader, allowing for efficient cooling and great overclocking. Even the "locked" version could be overclocked through the multiplier within (quite reasonable) limits.

 

-Apple iPad Pro - [5/10]

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A pretty good product, sunk by its price (plus the extra cost of the physical keyboard and the pencil). Buy it if you don't mind the Apple tax and are looking for a very light office machine with an excellent digitizer. Particularly good for rich students. Bad for cheap tinkerers like myself.

 

 

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I had a very relevant comment about the SEC being pedos, and it was silently deleted. 
He will say its a witch hunt in some form though. 

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Laptop docking area- 2 1440p korean monitors mounted, one AHVA matte, one samsung PLS gloss (very annoying, yes). Trashy Razer blackwidow chroma...I mean like the J key doesn't click anymore. I got a model M i use on it to, but its time for a new keyboard. Some edgy Utechsmart mouse similar to g600. Hooked to laptop dock for both of my dell precision laptops. (not only docking area)

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5 minutes ago, Syntaxvgm said:

He will say its a witch hunt in some form though. 

I don't think Elon is as bad as.... him....

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6 minutes ago, SC2Mitch said:

I don't think Elon is as bad as.... him....

That press conference...holy shit I watched the whole insane thing when it happened. If you haven't seen it all, you owe it to yourself. The quotes being reported aren't even the best parts, there was simply too much to report. Just an hour and a half of pure insanity- is this is coming from a guy that thinks a lot of anti-trump crap is also fake. 

This guy is nuts. 

muh specs 

Gaming and HTPC (reparations)- ASUS 1080, MSI X99A SLI Plus, 5820k- 4.5GHz @ 1.25v, asetek based 360mm AIO, RM 1000x, 16GB memory, 750D with front USB 2.0 replaced with 3.0  ports, 2 250GB 850 EVOs in Raid 0 (why not, only has games on it), some hard drives

Screens- Acer preditor XB241H (1080p, 144Hz Gsync), LG 1080p ultrawide, (all mounted) directly wired to TV in other room

Stuff- k70 with reds, steel series rival, g13, full desk covering mouse mat

All parts black

Workstation(desk)- 3770k, 970 reference, 16GB of some crucial memory, a motherboard of some kind I don't remember, Micomsoft SC-512N1-L/DVI, CM Storm Trooper (It's got a handle, can you handle that?), 240mm Asetek based AIO, Crucial M550 256GB (upgrade soon), some hard drives, disc drives, and hot swap bays

Screens- 3  ASUS VN248H-P IPS 1080p screens mounted on a stand, some old tv on the wall above it. 

Stuff- Epicgear defiant (solderless swappable switches), g600, moutned mic and other stuff. 

Laptop docking area- 2 1440p korean monitors mounted, one AHVA matte, one samsung PLS gloss (very annoying, yes). Trashy Razer blackwidow chroma...I mean like the J key doesn't click anymore. I got a model M i use on it to, but its time for a new keyboard. Some edgy Utechsmart mouse similar to g600. Hooked to laptop dock for both of my dell precision laptops. (not only docking area)

Shelf- i7-2600 non-k (has vt-d), 380t, some ASUS sandy itx board, intel quad nic. Currently hosts shared files, setting up as pfsense box in VM. Also acts as spare gaming PC with a 580 or whatever someone brings. Hooked into laptop dock area via usb switch

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the gameplan

 

1. Elon removed as CEO by SEC order - can’t be CEO of a public company

2. Tesla stock drops 50%

3. Tesla stock becomes so cheap they take it private

4. Musk reinstated as CEO

 

(credit: @danielgross and @collision)

it definitely looks like Elon is playing a bigger game.

 

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2 minutes ago, lacion said:

the gameplan

 

1. Elon removed as CEO by SEC order - can’t be CEO of a public company

2. Tesla stock drops 50%

3. Tesla stock becomes so cheap they take it private

4. Musk reinstated as CEO

 

(credit: @danielgross and @collision)

it definitely looks like Elon is playing a bigger game.

 

lol the pedo comments and doubling down are all about the price manipulation. 4d space chess. 

muh specs 

Gaming and HTPC (reparations)- ASUS 1080, MSI X99A SLI Plus, 5820k- 4.5GHz @ 1.25v, asetek based 360mm AIO, RM 1000x, 16GB memory, 750D with front USB 2.0 replaced with 3.0  ports, 2 250GB 850 EVOs in Raid 0 (why not, only has games on it), some hard drives

Screens- Acer preditor XB241H (1080p, 144Hz Gsync), LG 1080p ultrawide, (all mounted) directly wired to TV in other room

Stuff- k70 with reds, steel series rival, g13, full desk covering mouse mat

All parts black

Workstation(desk)- 3770k, 970 reference, 16GB of some crucial memory, a motherboard of some kind I don't remember, Micomsoft SC-512N1-L/DVI, CM Storm Trooper (It's got a handle, can you handle that?), 240mm Asetek based AIO, Crucial M550 256GB (upgrade soon), some hard drives, disc drives, and hot swap bays

Screens- 3  ASUS VN248H-P IPS 1080p screens mounted on a stand, some old tv on the wall above it. 

Stuff- Epicgear defiant (solderless swappable switches), g600, moutned mic and other stuff. 

Laptop docking area- 2 1440p korean monitors mounted, one AHVA matte, one samsung PLS gloss (very annoying, yes). Trashy Razer blackwidow chroma...I mean like the J key doesn't click anymore. I got a model M i use on it to, but its time for a new keyboard. Some edgy Utechsmart mouse similar to g600. Hooked to laptop dock for both of my dell precision laptops. (not only docking area)

Shelf- i7-2600 non-k (has vt-d), 380t, some ASUS sandy itx board, intel quad nic. Currently hosts shared files, setting up as pfsense box in VM. Also acts as spare gaming PC with a 580 or whatever someone brings. Hooked into laptop dock area via usb switch

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Added Elon's statement to CNBC

Quote

 

"This unjustified action by the SEC leaves me deeply saddened and disappointed," Musk said in a statement to CNBC. "I have always taken action in the best interests of truth, transparency and investors. Integrity is the most important value in my life and the facts will show I never compromised this in any way."

 

 

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5 hours ago, yian88 said:

This case will be closed very fast due to the fact that a tweet has no legality.  If a CEO of any company says stupid things on social media that arent the company's official/legal decisions he may be fired as CEO for poor behaviour but cant be sued for fraud thats a stretch of the law.

In case of Musk they cant fire him. I think Musk needs some time off to cool his head and to be brought back on earth from his Mars mental adventures.

Yeah, you need to maybe educate yourself a little more on the subject before making comments like this. 

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20 hours ago, lacion said:

the gameplan

 

1. Elon removed as CEO by SEC order - can’t be CEO of a public company

2. Tesla stock drops 50%

3. Tesla stock becomes so cheap they take it private

4. Musk reinstated as CEO

 

(credit: @danielgross and @collision)

it definitely looks like Elon is playing a bigger game.

 

Except such weapons grade manipulation would get all involved a jail term. Unless the drastic drop in share price meant they were unable to refinance their debt and as a result there was no Tesla to take private any more. If this is a game it's Russian roulette with 5 chambers loaded, while sitting on a land mine. 

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