Musk exposed himself, Tesla to a tsunami of lawsuits: Securities attorney


CONNELL: NUMBER OF ISSUES WE’LL DIVE IN ON ALL SORTS OF ANGLES. CHARLIE GASPARINO IS HERE ALONG WITH KRISTINA PARTSINEVELOS COVERING THE STORY AND DAN SHAFFER, WELCOME OFF. YOU’VE BEEN ON THIS KRISTINA. WE’LL START WITH YOU. AS HARVEY SAID, THERE ARE A NUMBER OF, ON THE TIMING OF THE TWEET THAT HAVE BEEN RAISED FOR SAUDI THE WEALTH FUND GOT IN ON THE STOCK. THAT’S A HUGE VOTE OF PEOPLE I’VE SPOKEN, TO THE VOTE OF CONFIDENCE ELON MUSK NEEDS HE CAN RAISE THE MONEY. BIG QUESTION IS AND WE CAN DISCUSS IT RIGHT NOW WHERE IS THE EXTRA FUND GOING COME FROM IN ORDER FOR THE COMPANY TO BE PRIVATE. CONNELL: HE USED THE TERM FUNDING SECURED.>>AND THINK ABOUT WHAT HARVEY IS SAYING HERE, NOT QUITE SAYING THAT. WHAT HE’S SAYING IS LOOK AT THE WAY THE STORY DEVELOPED YESTERDAY. STOCK IS TRADING FLAT. THERE WAS A LEAK TO THE “FINANCIAL TIMES” THAT THEY GOT THE SAUDIS IN 3-5% OF THE COMPANY. STOCK GOES UP A LITTLE BIT. WHO LEAKS THAT STORY? AND THE NEXT THING WHERE HE COMES OUT AND MINUTES LATER AFTER THAT STORY WAS LEAKED, HE CAME OUT AND SAID I’M GETTING FUNDING FROM THE OUTSIDE. I THINK WHAT HARVEY IS SUGGESTING AND I KNOW HARVEY PRETTY WELL IS THAT THERE IS AT CONNELL: RIGHT, WE NEED TO KNOW MORE.>>TO A STOCK MANIPULATION CASE. THAT’S WHAT HE’S SAYING, WHAT HE SAID BEFORE THAT IS THAT WE KNOW THAT ELON MUSK WAS AT WAR WITH THE SHORTS. HE HAS A REASON TO STICK IT TO THEM. THEY GOT STUCK YESTERDAY. CONNELL: RED FLAGS FOR YOU, DAN?>>PARTICULARLY WHEN THERE’S A LEAK AND WHAT HE DID. VERY WEIRD. NEVER SEEN ANYTHING LIKE THAT ESPECIALLY AFTER THE 10Q GETS FILED AND COMES OUT WITH AN CHAPTER. CONNELL: WHAT DO YOU WANT TO KNOW, THEN?>>I WANT TO KNOW ABOUT THE FUNDING, OF COURSE, I WANT TO KNOW WHY HE SAYS HE’S THINKING ABOUT IT BUT HASN’T DISCUSSED IT WITH THE BOARD OR CLAUMD THE BOARD DISCUSSED IT. WHY WOULD HE COME OUT WITH A TWEET LIKE THIS? ELON IS KNOWN FOR SPEAK OFF THE TOP OF HIS HEAD. WE KNOW PRESIDENT TRUMP DOES THE SAME THING. IN ELON’S MIND, I’M TRYING TO PUT MYSELF IN AN INVENTOR’S MIND, THINKS OFF THE CUFF, I THINK HE SAID IT PREMATURELY BUT WANTS TO GET OUT. SpaceX PROGRAM DOESN’T HAVE TO DEAL WITH INVESTORS — HOLD OCHARLIE, DOESN’T HAVE TO DEAL WITH PUBLIC INVESTORS, WALL STREET. I THINK HE’S FED UP WITH THAT. CONNELL: I UNDERSTAND THAT, MAY BE GOING ABOUT IT THE WRONG WAY.>>ABSOLUTELY WENT ABOUT IT THE WRONG WAY.>>NOT REGULATED BY THE SECURITIES AND EXCHANGE COMMISSION. THE PROBLEM THIS GUY HAS, NORMAL PROTOCOL, AND THAT LEAK OF THE FT STORY IS A TELL. THAT IS SO WEIRD. CONNELL: ABOUT THE SAUDI SOVEREIGN WEALTH FUND. WE HAVE ANDREW STALTMAN, CHICAGO SECURITIES ATTORNEY, WELCOME. WANT TO GET YOUR VIEW ON THIS. CHARLIE BROUGHT UP STOCK MANIPULATION IN THE HARVEY PITT INTERVIEW, AND HARVEY IN OTHER PART OF THE INTERVIEW DID TALK ABOUT THE TIMING OF THE ANNOUNCEMENT IN TERMS OF FUNDING BEING SECURED. HAFR EEDZ IT COULD BE A FALSE STATEMENT THAT MR. MUSK MADE YESTERDAY, HE DIDN’T HAVE THE FUNDING SECURED AT $420 A SHARE WHEN HE MADE THE STATEMENT ON TWITTER. KNOW?>>ABSOLUTELY. LOOK IT WAS BREATH TAKING IRRESPONSIBLE FOR HIM TO SEND THAT TWEET OUT. NOT SOMETHING THAT THE HEAD OF A PUBLICLY TRADED COMPANY REGULATORY ACTIONS AND THERE WAS NO REASON TO DO IT. AND, YES, THERE IS A CHANCE IT COULD BE SECURITIES FRAUD IF HE WAS TRYING TO CRUSH THE SHORTS? THAT’S A PROBLEM. IF HE DIDN’T HAVE THE FUNDING ALREADY SECURED, THEN THAT COULD BE MANIPULATION. GUY TO DO. CONNELL: EVERYBODY ELSE CAN WEIGH IN ON ANDREW. WHAT DO YOU NEED TO KNOW FROM ELON MUSK, WHAT DOES HE NEED TO WHAT WOULD BE YOUR QUESTIONS FOR HIM?>>NUMBER ONE, HAVE TO SEE IF AND NUMBER TWO AND MOST IMPORTANTLY, WHAT DID THE BOARD KNOW AND WHEN DID THEY KNOW IT? IF THIS ISN’T THE THING HE GOT PRE-BOARD APPROVAL FROM, THAT’S A HUGE PROBLEM. THERE NEEDS TO BE AN AK SUBMITTED, IF NONE OF THAT STUFF WAS DONE, MR. MUSK HAS A SERIOUS PROBLEM ON HIS HANDS.>>SPEAKING OF TIMING, HE MADE THE ANNOUNCEMENT ON TWITTER AND THE COMPANY CAME OUT WITH NO SIMULTANEOUS.>>AND THEY’RE NOT THE SAME, EITHER.>>SIX OUT OF NINE BOARD MEMBERS SIGNED IT. I’M SKEPTICAL ABOUT THAT, AND COMPLAINTS THE BOARD IS NOT INDEPENDENT. EXACTLY WHEN HE RECEIVED THE FUNDING TO MAKE SURE HE IS NOT GOING TO BE CHARGED FOR FRAUD.>>I WILL SAY THIS NO BOARD IS INDEPENDENT. LOOK WHAT’S GOING ON AT CBS RIGHT NOW. I THINK THAT’S WHY YOU HAVE THE RULES IN PLACE, AND WHAT WAS STRIKING TO ME IS THAT HIS TWEET WAS DIFFERENT THAN WHAT WAS SORT OF — WHAT WAS RELEASED. CONNELL: THEY ADDED TO IT IN THE STATEMENT.>>IT WAS HEDGED. THE RELEASE SAID WE WERE NOT THERE YET, I’M PARAPHRASING, CONSIDERING THIS.>>HE WAS THE HEAD IN THE FRONT. CONNELL: THE MODERN WORLD WE TWITTER.>>YOU ARE. CONNELL: YOU ARE, BUT YOU MUST HAVE SAID THAT YOU WOULD, AND TESLA DID THAT. TESLA SAID WE MIGHT MAKE ANNOUNCEMENTS ABOUT OUR COMPANY ON TWITTER, THIS IS MY UNDERSTANDING, ANDREW, YOU WEIGH IN ON THIS, YOU ARE SUPPOSED TO MAKE A SIMULTANEOUS COMPANY ANNOUNCEMENT, AND THE ANNOUNCEMENT FROM THE COMPANY CAME AFTER THE TWEET, WASN’T AT THE SAME TIME. IS THAT AN ISSUE?>>THAT’S RIGHT, UNDER REG FD, SUPPOSED DOING DISCLOSED ACROSS MULTIPLE DIFFERENT CHANNELS. WHERE IS THE BOARD? WE KNOW MR. MUSK HAS A LONG HISTORY OF SENDING PROBLEMATIC TWEETS OUT. REMEMBER THE ONE ABOUT McCABE BEING A CHILD MOLESTER? AND THE COMPANY GOING BANKRUPT>>I WOULD SAY THIS IS MORE SERIOUS, AND SAY IT THIS WAY, I DON’T REMEMBER THE LAST REG FD CASE THAT WAS BROUGHT. THEY DON’T BRING THE CASES A LOT BECAUSE THERE’S A LOT OF GRAY AREA, WIGGLE ROOM. PROBLEM IS IN THE SECURED FINANCING. CONNELL: IF HE HAS AN ISSUE, THAT MIGHT BE THE BIGGEST ISSUE.>>DON’T YOU THINK HE WOULD HAVE HAD FUNDING, HE WOULDN’T HAVE COME OUT WITH A TWEET LIKE THAT.>>HE BETTER.>>FAIR DISCLOSER.>>AND HE BETTER HAVE DOCUMENTATION.>>MOST PEOPLE — MOST OF THE BANKS AROUND THAT ARE GETTING CALLED RIGHT NOW DON’T KNOW WHERE IT’S COMING FROM.>>THE SAUDIS ARE SELLING CANADIAN ASSETS.

58 thoughts on “Musk exposed himself, Tesla to a tsunami of lawsuits: Securities attorney

  1. Elon Musk has dug himself into a hole. If the funding turns out to not be secured, he would be sued for securities fraud.

  2. BS. they are talking like democrats about the case of Russia, double standards or what.

  3. Musk entered the freedom of speech arena. Financial law doesn't encourage true transparency??? Doesnt this go against the US founders documents i.e. freedom of speech?

  4. his tweets says considering to make tesla private and without realising it some idiots are cooking up stories

  5. I see that the oil company sycophants are at it again… Damned if you do…Damned if you don't

  6. So wait, Fox support freedom of speech only when it is good for republican? Everyone else exercising free speech is illegal? Hypocrisy!

  7. Elon Musk is a phony douche. He didn't send anything to space. On the flipside, his geezer father is sending his rocket into Elon's step daughter. Look it up.

  8. Elon you idiot. Just had to open your mouth and take on the Shorts. Now you handed them a Full House. As they will have your ass in court for the next 2 years. As you better have that $80 billion US Dollar secure funding signed. On a legal binding contract. As they will beat your ass too a pulp in court….

    Big Mouth…

  9. Elon Musk exposed himself!?!? Was the victim a man or a woman? They refused to say ? What a damn pervert.

  10. Since Musk's slip of the tongue (you know it's real by how fake it looks) his spacecar stunt he's been gtng nothing but bad press!

  11. Charlie is a globalist shill. Dont trust a word out of his mouth ever.

  12. I love how the media who constantly rides Musk’s ass all the time now are losing their minds over his decision to go private and kick they’re destructive ass to the curb.

  13. Is it true that Musk is not as rich as people think he is? I heard all the money he does have comes from the American government in the form of grants paid by the taxpayers, he NEVER actually uses his own personal money.

  14. Exposed himself? Usually this term means flashing your dick! Not the best English. ?

  15. Fox be dumb look at the presidents tweets compared to elons single tweet. Oh regulatory issues vs election tampering.

  16. The mind of a thinking man is missed on those that consume whats been created from thinking – #TESLA #theLAB

  17. This business panel still doesn't see the 420 troll right in front of them. He probably is thinking about it.

  18. These pundits aren't qualified to talk about this, clearly.. It gets to be be just embarrassing to watch these segments about Tesla.. The glorious part of this, will be the compilation clips we'll have in the future of worst predictions eva.. They don't even understand the basics of why he won't need any additional funding, and how this takes people fucking with Tesla to make short term profits, out of the equation.

    It's brilliant, and he doesn't need it to be publicly traded anymore. You folks couldn't just slowly suck off the teat, you had to Tim "the toolman" Taylor the vacuum so much those nipples got sore you were sucking on, and Elon straight up is going to ween you off da titty.

    Brilliant, and anyone that doesn't understand why it's brilliant, I have some investments I'd just love to pitch to you.. Vcr repair shop franchise, Video rental stores for sale, as well as a startup company based on 1998 zip drive technology.. Also a new youtube style platform with a max resolution of 240p..

  19. Bored Elon Musk has tweeted himself as a villian. Read his twitter page. He is Manic Depressive Bipolar with Impulse control issues and is very lonely and misuderstood, as all true artists are. He will look good in prison Orange Jail Wear. His school boy antics have my TD trade account about 6k and growing in the red. Hoping the funding is secured that 420 happens tomorrow.

  20. Man, now what's that other guy getting all loud and worked up for? Its not his business, its not his money, he's not an advisor there, they don't know him. He's never built a multibillion dollar business nor run one. The brother needs to chill and calm down. take it easy. We're not under attack.

  21. Fox is owned by big oil, so of cause they are going to make a mountain out of a molehill on this, musk said, Am considering taking Tesla private, considering does not = am also hes said this a number of times, only this time he added Funding secured, meaning if he does then he has the Funding to do it.

  22. Tesla is gonna to open a $3 billion Gigafactory in China soon! What's going on here?  Why not in America for American workers instead of China because we need to make our unemployment rate fall further. Trump and the American people have been working hard to control our trade deficit with China. Manufactoring is back to America. However, Tesla is outsourcing American jobs and technology to China. For the sake of our economy and the American people, can Tesla either stop the Gigafactory plan in China or at least hold it for 5 more years while we're in the trade war with China? Putting our country above our personal interests is the right thing to do. Eventually, it's for all of us and the future of our country.

  23. The eradication of the cancerous parasitic shorts is pure joy to watch. Their panic level is well over 9000.

  24. HA! All these conservative assholes are all butthurt because all their dickhead "Short" friends are 100% FUCKED. I LOVE watching them CRY LIKE BITCHES

  25. You might want to save your advices on how Twitter should or shouldn’t be used for your beloved friend in the White House.

  26. Never compare Musk to Trump. Musk is a genius and is strategic. Trump is a moron and is impulsive.

  27. i dont mean to be rude, But, r u f57king dotarded? The greatest industrialist of the 21stCentury, who might just save YOU from destroying YOUR Planet and you want to sue him, …. wtf is wrong with this picture? R U in business to make money in the future OR R U Protecting an already buil;t DANGEROUSLY, IN FACT LETHALLY FLAWED existing power structure?
    if Petro fuels ARE dangerous Can I now openly say that ,….i will hold you personally responsible for promoting a death culture that is killing me my friends and the whole f57king globe? because if it is true that fossil fuels have caused the Globe to slip out of the goldilocks zone the zone where all of this FOR PROFIT infrastructure that you are obviously and unfaillingly supporting turns out to be true, … Who do YOU think is going to PAY, and I mean YOU WILL F57KING PAY.
    KNOWLEDGE IS THE ROOT OF ALL EVIL

  28. If Tesla doesn`t start making big money soon ,they will run out of other peoples money . The end

  29. Almost broke the record for talking bollocks for seven minutes. You can almost feel their Evil.

  30. Oil cartel, Every one is against this company & eagerly see it to be dead & it’s an American company. What a shame.

  31. It is interesting how people that do nothing find ways to disparage people that are making a difference..

  32. Fox Business exposes themselves to more ridicule but hey, they don't care. Loving watching the shorts panic.

  33. Taking the comany private takes max 35 Billion Dollars. The journalist and experts on this news show cannot even do aimple math! Its unbelieveable! Stop telling lies just because you dont like the guy or tesla! Musk has 20% of the shares and the biggest longterm inverstors who wont sell their shares when musk takes tesla private have a share of about 30%. It means that musk wont have to pay for 50% of the shares when taking tesla private. The short would have to be payed out, thats about 30% and the private small shareholders 20% if they wont stay on! Probably at least 15% of the small shareholders will stay with tesla cause they trust musk and tesla. Now do the math! 70 Billion is the company worth minus 65% for the people who will stay on and wont sell their shares when tesla goes private. That means musk would have to pay max 35% of 70 Billiion Dollars to make tesla a private company! Musjk needs about 25 Billion Dollars to make tesla private. And that is a small number for musk to achieve! The so called eperts and journalist cannot even calculate this simple equation. Its a shame that this show is called new. Or claims to have an expertise in financiell matters. A Grade 5 Kis could calculate this!

  34. Wow, the musktrat cult just can't ever evaluate anything without their biases. ANY negative news is a "hater/short" or "in the pocket of big oil" Ok, since you twits are too lazy to look up SEC rules, the relevant one here is: SEC rule 10b-5:
    To make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading, or
    (c) To engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person,
    See, he doesn't have to have actually profited himself. His tweets prove he hates shorts, his action hurt them, and if it turns out to be untrue, he and Telsa are now in a world of hurt. There are already two lawsuits filed, and an SEC investigation. If he can't prove he had funding when he sent that tweet (which btw, should have been a BOARD announcement, since this is the kind of thing the board approves, not the CEO, and should have happened after hours, with an SEC 8-K filing) Then he has really damaged Tesla. Further, the kind of company that should go private is one with solid earnings, and a low stock value, so they don't need more financing. Tesla is just the opposite: NO earnings, big expensive plans, and a high stock price.

  35. You dumb sh••••t, degenerate !the CEO is using a SEC approved news-outlet Twitter to issue statement as “News” and reflects an intent after several meetings with the board !
    Do you really think the best mind of our time the living genius Elon is a Fraud and stupid enough to issue a false statement!
    Y’all should be ashamed of yourself!
    Zionists owned media attacking CEO with no clue!
    Here’s a list of TESLA Top Zionists (anti TESLA) Shorts :
    1. Bernstein
    2. Efraim Levy CFRA
    3. Adam Jonas- Morgan Stanley
    4. James Steven Chanos
    5. David Einhorn -Green Light Capital
    6. Ryan Brinkman -JP Morgan
    7. David Solomon -Goldman Sachs
    8. Dana Blankenhorn -journalist
    9. SARA Isaac, Jim Cramer , Phil LeBeau, David Fabre CNBC
    10. Josh Ednilson (Journalist)
    11. Eisman, portfolio manager at Neuberger Berman
    12. Gordon @ Vertical Capital
    13. Adam Levine-Weinberg – The Motley Fool
    14. WS Journal -Rupert Murdoch

  36. the problem with Musk is he tries to present himself as a cultural messiah. however hes just a tech CEO thats way to in love with the idea of his image. I mean the guy called an actual hero a pedophile just because no one wanted to use his torpedo idea. The guy is incredibly smart but hes not going to save us from ourselves, hes Richard Branson 2.0

  37. Does Musk need to get board approval every time he's, "considering" something?

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