SEC is usually pretty serious
**Elon Musk Charged With Securities Fraud for Misleading Tweets**
FOR IMMEDIATE RELEASE
2018-219
https://www.sec.gov/news/press-release/2018-219
**The SEC’s complaint**, filed in federal district court in the Southern District of New York, alleges that Musk violated antifraud provisions of the federal securities laws, and seeks a permanent injunction, disgorgement, civil penalties, and a bar prohibiting Musk from serving as an officer or director of a public company.
**Judge rejects Elon Musk’s bid to end SEC tweet settlement**
The judge also denied Musk’s motion to quash a new subpoena by the SEC.
[https://www.politico.com/news/2022/04/27/judge-rejects-elon-musks-motion-sec-consent-decree-tweets-00028341](https://www.politico.com/news/2022/04/27/judge-rejects-elon-musks-motion-sec-consent-decree-tweets-00028341)
The 2018 agreement was part of a $40 million settlement over charges that Musk misled investors by falsely tweeting that he had secured funding to take Tesla private. Musk relinquished his role as chair of Tesla’s board as part of it.
Time will tell if he has learned his lesson (doubtful) and/or the government will actually hold him accountable (maybe depending on who holds office, not powerful people/companies often just keep getting a slap on the wrist).
It took him a mere few months to bounce back to his pre-twitter-purchase wealth, while also decaluing the company to half. So $20 billion loss is basically equal to being of no consequence to him.
As companies, no. However, if he has loans against his shares of SpaceX like he does against his Tesla shares, then it matters. Especially if he lost a big chunk of that loan to buy Twitter.
Tesla’s income is down 24%. Just because speculation in his stock has shown interest doesn’t mean he isn’t losing money. Hell when was the last time you read a headline about their technology?
If speculation is all that matters how many NFTs and Bitcoin ya own?
Wonder how long his lawyers had to coach that phrase into him.
Right, because he has a history of non-speculation, adherence to strict legality, and being driven by justice and truth.
Maybe he just learned his lesson.
Hopefully along with a history of premature atherosclerosis.
I want his hair plugs to just all fall out at once.
So, for *once*, he listened to what lawyers told him.
Just a matter of time before he cannot help himself, already seen he won’t be held accountable.
SEC is usually pretty serious **Elon Musk Charged With Securities Fraud for Misleading Tweets** FOR IMMEDIATE RELEASE 2018-219 https://www.sec.gov/news/press-release/2018-219 **The SEC’s complaint**, filed in federal district court in the Southern District of New York, alleges that Musk violated antifraud provisions of the federal securities laws, and seeks a permanent injunction, disgorgement, civil penalties, and a bar prohibiting Musk from serving as an officer or director of a public company. **Judge rejects Elon Musk’s bid to end SEC tweet settlement** The judge also denied Musk’s motion to quash a new subpoena by the SEC. [https://www.politico.com/news/2022/04/27/judge-rejects-elon-musks-motion-sec-consent-decree-tweets-00028341](https://www.politico.com/news/2022/04/27/judge-rejects-elon-musks-motion-sec-consent-decree-tweets-00028341) The 2018 agreement was part of a $40 million settlement over charges that Musk misled investors by falsely tweeting that he had secured funding to take Tesla private. Musk relinquished his role as chair of Tesla’s board as part of it.
I figure he made more than the penalty, doubt it bothered him too much
Your point has merit. But still, he was held to account by the SEC within their powers.
Sure, but often the first time you do something like this the penalty is minor. But if you do it again it's much more.
Time will tell if he has learned his lesson (doubtful) and/or the government will actually hold him accountable (maybe depending on who holds office, not powerful people/companies often just keep getting a slap on the wrist).
Wow, he IS capable of learning. Of course he probably just wasn’t high when he was asked the question.
When he is losing money like mad he is starting to see fines matter.
Losing money where?
Twitter was a poor investment. Nowhere else.
It took him a mere few months to bounce back to his pre-twitter-purchase wealth, while also decaluing the company to half. So $20 billion loss is basically equal to being of no consequence to him.
Don't disagree. Just the only place he lost money.
The Twitter investment has no relationship with SpaceX or StarLink because of limited liability
As companies, no. However, if he has loans against his shares of SpaceX like he does against his Tesla shares, then it matters. Especially if he lost a big chunk of that loan to buy Twitter.
Ever heard of a leveraged buyout? See Manchester United as an example
Tesla’s income is down 24%. Just because speculation in his stock has shown interest doesn’t mean he isn’t losing money. Hell when was the last time you read a headline about their technology? If speculation is all that matters how many NFTs and Bitcoin ya own?
I don't buy or speculate in the cryptocurrency markets. I'm looking for these losses you speak of. As in negative net income
He's still an embarrassing idiot. Nothing but a moderator now.
But it has been over a day since he said that. Surely he has written a lengthy weed-fueled twitter rant on the subject by now.