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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 FireBeyond on Wednesday April 15, 2020 @07:41PM (#22884483)
If you were a shareholder who sold because you saw the SEC seeking enforcement action, your actions were directly impacted by Elon's speech, and you can argue you have losses.
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Re:Tesla, Musk must face shareholder lawsuit over going-priv... by mehrdada on Wednesday April 15, 2020 @07:51PM (#22884570)
I am sure there will be some arguments along that line or similar, so we will see, but the situation would be entirely different had the stock been at say, $220 today.
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Re:Tesla, Musk must face shareholder lawsuit over going-priv... by FireBeyond on Wednesday April 15, 2020 @08:00PM (#22884628)
The stock price today is immaterial, as it relies on information that no investor had at that point in time. Hindsight is always 20/20.
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Re:Tesla, Musk must face shareholder lawsuit over going-priv... by mehrdada on Thursday April 16, 2020 @04:02AM (#22887174)
It is a civil lawsuit and it sure is material as far as quantifying damages is concerned. But why speculate when we can just wait and see the outcome.

Again, I agree that your post above might serve as an avenue to claim some damages that a judge would agree to, but to say stock price today is immaterial is just plain wrong. If the stock price had dropped to $100 today, it would have been likely that all shareholders could make a valid argument to a claim, but now at the very least one has to demonstrate that they were a shareholder at the time of the tweet, and they have taken a certain action that hurt them based on that tweet.

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