"I'm so rich that stealing $200 million of your money is basically the same as finding some change under someone else's couch cushions, so I should not suffer any consequences for it."The idea that Musk "engaged in intentional securities fraud in order to save $200 million is illogical in light of Musk’s eventual $44 billion purchase of Twitter," Musk's court filing said. "It defies logic that Musk would commit fraud to save less than 0.5 percent of Twitter’s total purchase price, and 0.1 percent of his net worth, all while knowing that there would be 'an inevitable day of reckoning' when he would disclose the truth—which was always his intent."
And yet, the odds are overwhelmingly in favor of him getting away with it. Musk is immune to consequences of his actions.Musk doesn't get the benefit of the doubt given the severity and quantity of his other faults with regards to the SEC.
He did this intentionally and hoped it would get missed. No amount of "this was an honest mistake" will cover it.
FTFY.Elon Musksays lawsuit over late disclosure of Twitter stake“makes no sense.”
Musk responded to a Twitter user joking that he should buy the platform and replace the bird logo with a Dogecoin logo by tweeting, "Haha that would be sickkk."
Yeah, but so far he's yet to be punished appropriately for any of those other faults. Is the whole agreement at Tesla for a lawyer to review his tweets even being enforced?Musk doesn't get the benefit of the doubt given the severity and quantity of his other faults with regards to the SEC.
He did this intentionally and hoped it would get missed. No amount of "this was an honest mistake" will cover it.
According to Musk, evidence showed that he simply misunderstood the Securities Exchange Act when he delayed filing a Rule 13 disclosure of his nearly 10 percent ownership stake in Twitter in March 2022. Musk argued that he believed he was required to disclose this stake at the end of the year, rather than within 10 days after the month in which he amassed a 5 percent stake. He said that previously he'd only filed Rule 13 disclosures as the owner of a company—not as someone suddenly acquiring 5 percent stake.
"I'm so rich that stealing $200 million of your money is basically the same as finding some change under someone else's couch cushions, so I should not suffer any consequences for it."
The $44 billion thing is especially ridiculous given how hard he fought to not buy it. Obviously the comparison is completely meaningless if he had no actual intent to spend the $44 billion.
Hmmm. Teenage wanna be edgelords?Nobody would really act like that, right?
The Tesla lawyer only needs to look at his tweets that are material to Tesla. Him buying Twitter isn't material to Tesla.Yeah, but so far he's yet to be punished appropriately for any of those other faults. Is the whole agreement at Tesla for a lawyer to review his tweets even being enforced?
I'm at the point that I doubt Musk will ever be properly punished for all the laws and regulations he's broken.
I'm so rich that I don't need to steal candy from a baby, says the guy that was found stealing candy from a baby.Is Musk effectively claiming that he's too rich for the law to apply to him?
Yeah, the old saw "Ignorance of the law is no excuse." Instead of suing lawyers maybe he should have consulted one familiar with the law. "Oh, and after I pulled this stunt ERRR realized my error, I conveniently ERRR I properly filed the papers."Man who plays fast and loose with the truth says “trust me, it was an accident “.
"I'm so rich that stealing $200 million of your money is basically the same as finding some change under someone else's couch cushions, so I should not suffer any consequences for it."
The $44 billion thing is especially ridiculous given how hard he fought to not buy it. Obviously the comparison is completely meaningless if he had no actual intent to spend the $44 billion.
only if he actually paysThis guy is a lawyers wet dream. cha ching,cha ching, cha ching!
Yeah, we're supposed to believe that 200 Million dollars isn't worth that much to him. The rich don't get rich nor stay rich by throwing away millions. They're all schemers and covet every dime they can get or hold on to."I'm so rich that stealing $200 million of your money is basically the same as finding some change under someone else's couch cushions, so I should not suffer any consequences for it."
The $44 billion thing is especially ridiculous given how hard he fought to not buy it. Obviously the comparison is completely meaningless if he had no actual intent to spend the $44 billion.
Heh, true enough. Well played.only if he actually pays
The only way I can read that is that he's criminally incompetent.According to Musk, evidence showed that he simply misunderstood the Securities Exchange Act when he delayed filing a Rule 13 disclosure of his nearly 10 percent ownership stake in Twitter in March 2022. Musk argued that he believed he was required to disclose this stake at the end of the year, rather than within 10 days after the month in which he amassed a 5 percent stake. He said that previously he'd only filed Rule 13 disclosures as the owner of a company—not as someone suddenly acquiring 5 percent stake.
The Tesla lawyer only needs to look at his tweets that are material to Tesla. Him buying Twitter isn't material to Tesla.
Yeah, how lucky are we that Musk and his mentor Trump are evil and stupid.The only way I can read that is that he's criminally incompetent.
He seems to grasp the issue like a child. And then says, "Oops, I'm playing in a grown up game but I don't know the rules. But I'm stupid, so I shouldn't be held accountable for my own stupidity."
I mean, which is it, Musk? Were you trying to get away with busting the price of Twitter down so you didn't have to sell so much of your financial soul to people who murder the people they don't like inside their embassies in foreign countries, or are you just that fucking incompetent that you didn't bother learning the rules long before you started playing that game?
Personally, I lean toward both.
Or using Tesla advertising budget to buy ads on Twitter.Except when he's poaching Telsa staff to fix the consequences of him firing everyone at Twitter.
Just a small reminder of how bloody bonkers the wealth of the über‑rich is:Yeah, we're supposed to believe that 200 Million dollars isn't worth that much to him. The rich don't get rich nor stay rich by throwing away millions. They're all schemers and covet every dime they can get or hold on to.
It's a class action filed in the southern district of N.Y., so, yeah, it seems so. Unless the judge would decide it's frivolous, which it does not seem to be.Sounds like a question for a jury to decide.
See, this just proves that he isn't malicious. He didn't think far enough ahead to keep the important people at Twitter, how can you expect him to plan out a scam with investments, case should clearly be dropped...Except when he's poaching Telsa staff to fix the consequences of him firing everyone at Twitter.
He's just loudly asking for the secret menu that everybody knows is the foundation of the system.Is Musk effectively claiming that he's too rich for the law to apply to him?
Check his testimony under cross in the recent Delaware court caseThe only way I can read that is that he's criminally incompetent.
He seems to grasp the issue like a child. And then says, "Oops, I'm playing in a grown up game but I don't know the rules. But I'm stupid, so I shouldn't be held accountable for my own stupidity."
I mean, which is it, Musk? Were you trying to get away with busting the price of Twitter down so you didn't have to sell so much of your financial soul to people who murder the people they don't like inside their embassies in foreign countries, or are you just that fucking incompetent that you didn't bother learning the rules long before you started playing that game?
Personally, I lean toward both.
Yes, we are at the larcenous billionaires versus a firefighters pension fund stage of this gilded age! Watch out Nuns, Elon is coming for you next.I'm so rich that I don't need to steal candy from a baby, says the guy that was found stealing candy from a baby.
OR, it may well be he's been deranged all along and his purchase and subsequent trolling there was his debut to the part of the world who was not fully aware of who and what he was. I will agree that he certainly went full TILT! after he announced his plan and then the "OOOPS! No I didn't!" clown car act.Twitter was the moment where Musk went from terrible person to totally jumping the shark into outright derangement.
Yeah, the old saw "Ignorance of the law is no excuse." Instead of suing lawyers maybe he should have consulted one familiar with the law. "Oh, and after I pulled this stunt ERRR realized my error, I conveniently ERRR I properly filed the papers."
His lawyers keep on claiming to use 'logic' when dismissing the charges in the suit with a client who has a reputation of illogical-some would say delusional-behavior.
And, in past suits, he's openly claimed nobody should believe him.
This guy is a lawyers wet dream. cha ching,cha ching, cha ching!
Musk argued that he believed he was required to disclose this stake at the end of the year, rather than within 10 days after the month in which he amassed a 5 percent stake.
Also remember he didn't pay $44 billion out of pocket (or couch cushions) - he had to take out several multi-billion dollar loans. So saving $200 million dollars is definitely relevant.
https://en.wikipedia.org/wiki/Acquisition_of_Twitter_by_Elon_Musk#Takeover_bid
On April 20, Musk disclosed that he had secured financing provided by a group of banks led by Morgan Stanley, Bank of America, Barclays, MUFG, Société Générale, Mizuho Bank, and BNP Paribas, for a potential tender offer to acquire the company. The funding included $7 billion of senior secured bank loans; $6 billion in subordinated debt; $6.25 billion in bank loans to Musk personally, secured by $62.5 billion of his Tesla stock; $20 billion in cash equity from Musk, to be provided by sales of Tesla stock and other assets; and $7.1 billion in equity from 19 independent investors