, fearing that the comments he was posting were damaging the automaker’s brand as well as the company’s stock price, according to testimony presented Wednesday.
Less than three weeks later, Fath said he was “shocked and surprised” to hear about Musk’s buyout tweet during a vacation he was taking in the Caribbean with his family. “It blew up my entire vacation,” Fath said.who was the lead director on Tesla’s board in 2018, painted Musk’s tweets as a way of meeting “full disclosure” regulations, requiring that all shareholders be given inside company information at the same time.
Levinson said, in a way, what’s on trial here is Musk’s management style of running his company by sending out thousands of quick, off-the-cuff and sometimes joking tweets. San Francisco securities attorney Ramzi Abadou said in the end, the jury may weigh in on whether Musk is executing responsible management with his tweeting.Photograph: George Nikitin/EPA
If you are buying shares on the basis of tweets rather than the analysis of balance sheets and profit statements, you are a speculator and you should know the risks. A deal’s not done until the fat lady sings.