The lawsuit complaint

bwilson4web

bwilson4web

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Source: https://www.courthousenews.com/wp-content/uploads/2018/08/4865.pdf

. . .
At 3:07pm, Defendant Musk Tweeted: “Def no forced sales. Hope all shareholders remain. Will be way smoother & less disruptive as a private company. Ends negative propaganda from shorts.” This was in response to a Tweet from @MindFieldMusic stating that “At 1st I was upset bc I thought this would be a forced buyout. But if average folk like myself are allowed to reside with the garden walls along with you, then . . . Yes please.”
. . .
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I'm still reading it but this gem is worth it. The complaint condenses a lot of sparse tweets.

Bob Wilson
 
Let's wait till Thursday?

If as I suspect events turn this lawsuit into a soon to be forgotten footnote in history . . . fine. I just want to see if anyone is foolish enough to carry it on.

Remember the farting unicorn suit, it disappeared as have many others.

Bob Wilson
 
bwilson4web said:
Remember the farting unicorn suit, it disappeared as have many others.
Click to expand...

I don't think that's a good example. The "farting unicorn" artist didn't have a motive to see Tesla be damaged or fail, as TSLA stock shorters do. The artist in question was being quite reasonable in his request; it was only Tesla's foolish bullying tactics, in ignoring the artists' copyright, which lead to him getting a lawyer and filing a lawsuit. Settling out of court was entirely to the artist's advantage, and I fully expected that.

Contrariwise, those short-sellers filing suit against Tesla want to use the suit to generate the maximum possible bad publicity for Tesla, and that is most definitely not going to be served by quietly letting the suit disappear or even settling out of court with Tesla. Also, from this non-lawyer's viewpoint, it seems to me that Tesla absolutely shouldn't give these lying, smear-campaigning parasites one red cent, and I hope to see Tesla countersue the S.O.B.'s! If Elon and Tesla have done nothing wrong per SEC rules, and I very much hope that's the case, then Tesla ought to be able to turn the media attention to this suit to its advantage with a countersuit.

Of course, I could be quite wrong on this subject, since (A) I don't know all the details and (B) I'm neither a public relations consultant nor a lawyer.
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bwilson4web said:
From another forum, this shows how splitting off the legal part works:
Click to expand...

I certainly don't want to argue about it. In my opinion it's not that big a deal either way. I just thought that keeping all discussion of the subject in one thread would generate more discussion; possibly attract more posts. There is certainly an advantage to splitting subjects into smaller pieces when the post count gets rather high in a single thread, as it often does on a high-volume forum such as the Tesla Motors Club. But here on the InsideEVs Forum there isn't much daily volume except in the Clarity PHEV section of the forum.

But you don't agree, and it's your thread not mine, so end of discussion.
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Found at the SEC.gov web site for August 14:
tsla-8k_20180814.htm

EX-99.1 2 tsla-ex991_6.htm EX-99.1 Exhibit 99.1

Tesla Announces Formation of Special Committee to Evaluate Potential Going Private Transaction

Palo Alto, CA, August 14, 2018 -- Tesla, Inc. (the “Company”) announced today that its Board of Directors has formed a special committee comprised of three independent directors to act on behalf of the Company in connection with Elon Musk’s previously announced consideration of a transaction to take the Company private (the “Going Private Transaction”). The special committee has not yet received a formal proposal from Mr. Musk regarding any Going Private Transaction nor has it reached any conclusion as to the advisability or feasibility of such a transaction.

The special committee is composed of Brad Buss, Robyn Denholm and Linda Johnson Rice. The special committee has retained Latham & Watkins LLP as its legal counsel and intends to retain an independent financial advisor to assist in its review of a formal proposal once received. The Company has separately retained Wilson Sonsini Goodrich & Rosati as its legal counsel in this matter.

The special committee has the full power and authority of the Board of Directors to take any and all actions on behalf of the Board of Directors as it deems necessary to evaluate and negotiate a potential Going Private Transaction and alternatives to any transaction proposed by Mr. Musk. The special committee’s grant of authority provides that no Going Private Transaction will be consummated without the approval of the special committee. The special committee expects to provide a further update concerning the process associated with Mr. Musk’s proposal as soon as practicable.

No assurances can be given regarding the likelihood, terms and details of any proposal or potential Going Private Transaction, that any proposal made by Mr. Musk regarding a potential Going Private Transaction will be accepted by the special committee, that definitive documentation relating to any such Going Private Transaction will be executed or that such a transaction will be completed.

Forward Looking Statements

Certain statements in this announcement, including statements regarding a potential Going Private Transaction, are “forward-looking statements” that are subject to risks, uncertainties and contingencies. These risks, uncertainties and contingencies include, but are not limited to, the impact of the announcement of the formation of the special committee and review of a potential Going Private Transaction on the Company’s business and its ability to implement any potential Going Private Transaction. Various important factors could cause actual results to differ materially, including the risks identified in our SEC filings.

This list of factors is not intended to be exhaustive. Such forward-looking statements only speak as of the date of this announcement, and the Company disclaims any obligation to update information contained in these forward-looking statements.

Investor Relations Contact:
[email protected]

Press Contact:
[email protected]​

Bob Wilson
 
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