I want to forget Elon’s stupid $420 tweet but you all won’t let me

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Elon Musk hasn’t tweeted in 10 days, but his Twitter account is news again because time is a flat circle.

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That’s why we must now scrunches up our faces, tilt our heads to the side, and tense up to remember the weed joke shared by the CEO on August 7, 2018. Otherwise, we will never understand why activist investors are screaming for securities. and the Exchange Commission to interfere with Tesla’s downsizing advice.

On that fateful day, Musk said he was “considering the possibility of privatizing Tesla at $420 a share.” secured funding to do this. Only, he apparently didn’t haveso the Securities and Exchange Commission hit Musk fraud allegations due to “false and misleading” tweets. Musk and Tesla later achieved Agreement play well with the agency. This included several blows to the wrist.

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As part of the agreement, Musk and Tesla jointly committed more than $40 million, Musk stepped down as chairman temporarily, Tesla added two independent directors to its board, and Musk was ordered to check his tweets. However, according to letter dated 17 June from SOCa group of activist investors, Tesla violated this deal twice.

The group states that:

  1. Tesla’s board failed to exercise “effective oversight or [establish] trustworthy precleaning process” for Elon’s tweets.
  2. And Tesla’s board of directors has no intention of replacing Oracle CEO and island owner Larry Ellison, who is “one of two independent directors appointed by Tesla to enforce” the terms of the deal. (Tesla indicated last month that Allison will leave her role and not be replaced.)

The SOC argues that cutting Tesla’s board of directors and reducing the ratio of independent board members to non-independent board members (which is poised to go from “9 to 2” to “5 to 2”) is tantamount to “non-compliance” with the SEC. decree. A group of investors now want the SEC to force Tesla to “appoint at least one additional independent director to its board.” Meanwhile, Musk filed appeal a few weeks ago to cancel the SEC agreement in general, in the name of freedom of speech.

In any case, there is no escape. No matter how hard I try to forget Musk’s stupid little tweets, the universe just won’t let it. I choose to accept my fate to live in a musk-laced Groundhog Day. You will?

Tesla did not immediately respond to a request for comment on the email.




Credit: techcrunch.com /

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