Wow. I know he’s going to appeal. Assuming his appeal is unsuccessful, with someone who has the obscene wealth of Musk, is there really any amount of penalty that would deter someone from similar actions again in the future?
He’ll notice the penalty, but it probably won’t amount to enough to really hurt.
Those false statements aren’t that different from the Enron case that resulted in liability for inducing people to buy with lies about financial strength - just the other side of the same coin. But that happened in a different judicial era, so it wouldn’t surprise me to see him skate.
Short answer no.
It took 4 years to get to this $2+ billion judgement. The appeal process will
drag on at least 2 more years, at which point lesser undisclosed settlement amount will be reached and all will be forgotten.
This is very similar to his tweets in 2018 of taking Tesla private with funding secured. That ended in $40 million in penalties with SEC. A mere slap on the wrist
for him financially speaking, and didn’t prevent him from doing like things with
the twitter deal later.
Musk is a terrible man, just terrible. Who brought on this lawsuit?
1 Like
It’s in the article.
We all know what this lawsuit is about.
Yes, and the jury is in on it. But feel free to know nothing about the case and tell us your feelings.
5 Likes
Like clockwork
2 Likes
All of us who read the lawsuit do, in fact, know what it was all about. Those who didn’t or are incapable of understanding will go a different direction.
2 Likes
Maybe they can donate his fine money to the TSA employees and combine it with the millions he has already offered to pay.
The penalty for this lawsuit should go to the people affected by his actions, the class that sued. This is a civil lawsuit between individuals as a class and him, not a regulatory action.
Let me know when he transfers the funds!
1 Like
Yeah, I mispoke, called it a fine, it’s a remedy. They can donate that, IF they ever receive it.
Why would individual shareholders donate it? I mean, sure they could donate it to any charity if they chose but I don’t understand why you’re seeming to suggest they should. Like what is the connection between the former shareholders of twitter and the TSA?
1 Like
I didn’t say that they should, I said they can. They do fly don’t they?
Ok, but of all the potential ways these people could spend their money (that they haven’t yet received and may not receive anytime soon)… why was that the solution you thought of for these former Twitter shareholders?
I saw another solution this morning while watching Smerconish. Tip jars, wherever someone enters a TSA line, they drop 5 bucks in the jar. That’ll work too
What does TSA have anything to do about this jury decision ?
Bizarre thread branch or attempt to redirect.
2 Likes
It doesn’t; it has to do with Musk
When’s Elon transferring the funds to TSA? Does he even have that kind of cash or would he have to dump stock to do so? How much would he need to transfer? How much stock would he have to sell to get the cash? What would dumping that much stock at one time do to the share price of whatever he sells? As a key shareholder and employee (insider) of Tesla, if he’s selling a bunch of stock, doesn’t he have to file something with the SEC to report his planned sale?
Probably much the same way that will Elon fund this settlement. Timothy Mellon found a way to help the troops; Elon could find a way to help TSA.