Accusations related to Musk and his statement, which we saw a few months ago, are gaining momentum. Due to the manipulation of the market, which Elon started with his tweet discussing the possible takeover of Tesla into private hands, the director of the company will be forced to resign from the board of directors. This resolution was the result of an out-of-court settlement, whereby both Musk and Tesla will separately receive $20 million in addition to their board seats. The funds will serve as compensation for investors who suffered damages caused by the company's actions. Within the next 45 days, Elon must resign from the board (minifor less than two years), but he will continue to serve as CEO.
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This result was decided by the US Securities and Exchange Commission, on the basis of which Tesla will have to make several internal changes. Two new independent directors should appear at the head of the company, and in addition, according to the authorities, it is necessary for Musk to deal more thoroughly with Internet communication on social networks. For this reason, a special lawyer was appointed by the company, who will have the task of monitoring all means of communication (especially expression via Twitter) by Elon Musk. According to the competent authorities, these measures should reverse the lack of confidence in the company's statements and strengthen its position on the market.
The main spark to ignite all the recent complications was this tweet from Elon Musk:
Musk still stands by his statement that he did not intend to disrupt the global stock market. However, a lot of information points to the fact that he only started looking for potential investors after the charges were issued. These related to the rapid rise in the value of the shares, which the CEO of the company was supposed to have caused by his tweet. It looks like the company will be doubly careful in the future about what the company representative presents on social networks. The next hearing regarding Musk's wrongdoing is scheduled for December/February 2019. The Justice Department wants to continue investigating Musk's intent to manipulate. Until then, a lot of facts can change, that's why koneWe will have to wait for the final outcome of the case.
Elon won't be part of the board, but Tesla's CEO will still be. In addition, he can return to the board in three years.
need tooneThey're starting to do car consultations ;)
That December will be more like the turn of December and February, right?
can you please also provide a translation
And can you please also do a translation for Slovak readers? 🙃 There are plenty of those here too.
You really can't read the article in Slovak? Pretty sad.