The Market Ticker - Musk: You've Been Smoked
Musk has been sued by the SEC, asking for a permanent bar on him being a director or officer of a public company.
Needless to say, that would include Tesla.
To those who said that Musk’s “420″ tweets were of no importance, or wouldn’t lead to serious enforcement action — how’s that prediction looking roughly about now? And further, while you have to assume there is some settlement effort being made it appears, from reporting, that Musk has already refused a settlement offer.
Any settlement or sanction that removes Musk from Tesla — and bars him from any officer position in a public company in the future — would be quite bad. But it’s not really the big problem the company has right now.
As I’ve pointed out the real issue is cash flow and debt, which…….
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Source: https://www.market-ticker.org/akcs-www?post=234261
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