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A comment on Tesla, Musk must face shareholder lawsuit over going-private tweet. Parent comment

Re:Tesla, Musk must face shareholder lawsuit over going-priv... by gizmo on Wednesday April 15, 2020 @07:06PM (#22884206)
When it became clear the "funding secured" tweets were a lie and that the SEC was seeking an officer & director ban against Elon Musk many people sold their stock and lost money.

It's not OK for directors of a company to make materially false statements to their shareholders and if they do they can (and deserve to) get sued. It's a bit silly to talk about people being "still angry about this" when between filing the lawsuit and today Tesla has been close to bankruptcy multiple times.

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Re:Tesla, Musk must face shareholder lawsuit over going-priv... by xkjkls on Thursday April 16, 2020 @03:17PM (#22892502)
Exactly. Can anyone name another CEO who could pull this stunt and wouldn't be immediately fired by his board? This whole ordeal exposed the complete lack of corporate governance in Tesla.
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Re:Tesla, Musk must face shareholder lawsuit over going-priv... by mehrdada on Friday April 17, 2020 @12:56AM (#22896325)
Can you name any other CEO who could pull the success Tesla had thus far? It comes in a package--you cannot pick and choose. If the board (or SEC) legitimately thought a better person could run the company, the outcome may have been different.
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Re:Tesla, Musk must face shareholder lawsuit over going-priv... by xkjkls on Friday April 17, 2020 @12:40PM (#22900507)
I'm not sure I would call Tesla a success. The company has racked up GAAP losses of close to $7 billion since going public, and has never made an annual profit. Whatever Elon Musk has created, it doesn't look anything like a sustainable business.
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Re:Tesla, Musk must face shareholder lawsuit over going-priv... by frank2 on Friday April 17, 2020 @12:45PM (#22900566)
The stock market disagrees with you:

The market cap of Tesla is 137.2B in contrast to GM's 29.8B, Ford's 19.6B and Daimler's 32.3B.

Source: https://markets.on.nytimes.com/research/markets/usmarkets/in...

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Re:Tesla, Musk must face shareholder lawsuit over going-priv... by xkjkls on Friday April 17, 2020 @07:36PM (#22904014)
The market can remain irrational for a long period of time. WeWork was worth 40 billion two years ago. Now it's worth a negative number.
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Re:Tesla, Musk must face shareholder lawsuit over going-priv... by frank2 on Friday April 17, 2020 @09:15PM (#22904520)
When you picked WeWork out from the pool of many thousands of companies valued at 40 billion usd or more two years ago, you had the benefit of hindsight, which we don't have on the question of whether Tesla is currently overvalued by the stock market.
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