Tesla Being Examined for Possible Securities and Wire Fraud

A

alarmguy

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Wed May 8th

Sketchy details, new news. Headlines make it sound like they are already being investigated but I changed my headline to Examined for investigation... the news media in todays world is almost "fake"
This is in relation to misleading investors and consumers on self driving capabilities.

Its not very flattering

Here and the other below

 
alarmguy said:
Wed May 8th

Sketchy details, new news. Headlines make it sound like they are already being investigated but I changed my headline to Examined for investigation... the news media in todays world is almost "fake"
This is in relation to misleading investors and consumers on self driving capabilities.

Its not very flattering

Here and the other below

Click to expand...


"...They will need to demonstrate that Tesla’s claims crossed a line from legal salesmanship to material and knowingly false statements that unlawfully harmed consumers or investors, three legal experts uninvolved in the probe told Reuters.

U.S. courts previously have ruled that “puffery” or “corporate optimism” regarding product claims do not amount to fraud. In 2008, a federal appeals court ruled that statements of corporate optimism alone do not demonstrate that a company official intentionally misled investors...."

Steep hurdle
 
What they arent saying clearly is blatant repeated market manipulation on robotaxi vaporware.

"the Justice Department is examining other statements by Tesla and Chief Executive Elon Musk suggesting its cars can drive themselves."

In before "oh but thats great news re-spin" "to the moon" "but it gave jobs to the jobless."
 
Of course "THEY" will likely now try to completely destroy and smash Elon into dust because he is not one of the puppets to the many different Washington DC crime sindicates. He listens to no one and goes his own way and most dangerous of all he does not know when to keep his mouth shut. He should have learned to keep many of his opinions to himself like we must do here. :)
 
SammyChevelleTypeS3 said:
Of course "THEY" will likely now try to completely destroy and smash Elon into dust because he is not one of the puppets to the many different Washington DC crime sindicates. He listens to no one and goes his own way and most dangerous of all he does not know when to keep his mouth shut. He should have learned to keep many of his opinions to himself like we must do here. :)
Click to expand...
While I agree, he used it to his advantage for a long time with continuing carbon credits and tax rebates for EV's.

Don't bite the hand that feeds is an old saying - although I really like the fact that he did so with Twitter.
 
I've watched a lot of the v12 self-driving videos on YouTube. It's not 100% successful/autonomous yet and probably never will be, but it's getting impressive.

A lot of the videos revolve around Tesla drivers pointing out the human mistakes of other drivers around them. Pretty funny and ironic.

One of the system's limitations is that it can't back up yet, although that's supposedly coming soon.
 
BMWTurboDzl said:
"...They will need to demonstrate that Tesla’s claims crossed a line from legal salesmanship to material and knowingly false statements that unlawfully harmed consumers or investors, three legal experts uninvolved in the probe told Reuters.

U.S. courts previously have ruled that “puffery” or “corporate optimism” regarding product claims do not amount to fraud. In 2008, a federal appeals court ruled that statements of corporate optimism alone do not demonstrate that a company official intentionally misled investors...."

Steep hurdle
Click to expand...
Tesla was sued once over this not even remotely sure how they won. Eight Tesla owners back in 2017 or so bought new model s and Elon like usual spouted off how they'd be fully autonomous in three to four years. Well thay ship has sailed and never materialized. They should be fined VW Dieselgate money for the fraud. Musk has stated that Tesla is "SO Close " to fully autonomous driving for the last 10 years convincing people to buy. Musk has then said that current technology and Tesla vehicles may not be compatible or upgradeable to newer technology. Twelve engineers stated that the "fully autonomous " Model X back in 2018 had software and hardware not available on any production vehicle. Couple this with the fact that it had a route pre-loaded, and it still crashed. Musk claimed that the passenger was there "just for insurance reasons" and that it could "drive without human intervention."
 
cptbarkey said:
What they arent saying clearly is blatant repeated market manipulation on robotaxi vaporware.

"the Justice Department is examining other statements by Tesla and Chief Executive Elon Musk suggesting its cars can drive themselves."

In before "oh but thats great news re-spin" "to the moon" "but it gave jobs to the jobless."
Click to expand...
Engineers have repeatedly told Musk to stop making grandiose statements and that they are 10-20 years out minimum of having level 5 autonomous technology, and that it needs more than cameras to make it happen. Look at the Cybertruck. It was FIVE years late, meets none of the specs Musk went on and on about. Tesla is also being investigated for fudging milage on their vehicles. Initially the Cybertruck was going to go 500 miles on a charge. Then at the unveiling last year Musk said 350 miles. No cybertruck owner has seen more than 256 miles or so to a charge with the low end being under 100 miles when towing.
 
97prizm said:
Tesla was sued once over this not even remotely sure how they won. Eight Tesla owners back in 2017 or so bought new model s and Elon like usual spouted off how they'd be fully autonomous in three to four years. Well thay ship has sailed and never materialized. They should be fined VW Dieselgate money for the fraud. Musk has stated that Tesla is "SO Close " to fully autonomous driving for the last 10 years convincing people to buy. Musk has then said that current technology and Tesla vehicles may not be compatible or upgradeable to newer technology. Twelve engineers stated that the "fully autonomous " Model X back in 2018 had software and hardware not available on any production vehicle. Couple this with the fact that it had a route pre-loaded, and it still crashed. Musk claimed that the passenger was there "just for insurance reasons" and that it could "drive without human intervention."
Click to expand...
IIRC Elon had every incentive to juice the stock price back then because of how his pay package (which he's currently trying to cash in on) was structured.
 
BMWTurboDzl said:
IIRC Elon had every incentive to juice the stock price back then because of how his pay package (which he's currently trying to cash in on) was structured.
Click to expand...
His pay package was structured in 2019 or so, when Tesla was between $12 and $15 a share. If the market cap of Tesla doubled from that point he got $10B in stock (which was locked in he couldn't sell for 5 years). If the market cap tripled he got $20B. And so on. He Achieved $65B. Then some lawyers representing a guy that literally owned a single share, and a judge in Delaware, voided the pay package.

People are upset because its in Billions. But lets say a car salesman sells 10 cars a month, and the owner paid him $1000. So you come in and take his job. The owner says if you sell 20 cars in a month he will pay you $2000, and if you sell 30 cars he will pay you $3000 and so on. And so you sell 65 cars in one month. And the owner says "just kidding".

You can make arguments that its just too much money and it wasn't all him and so on - and those are maybe true. But the fact is he had a compensation plan in place, and they changed it after the fact. When the stock was $381 I didn't hear anyone complaining then.
 
demarpaint said:
IIRC a new Chinese EV maker is going public on the NYSE tomorrow. IMO if that news is in fact correct it's another carpenter ant colony in the Tesla house.
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I can’t find that one granted I didn’t look that long, but there was something that started to trade today I believe and that was yet another Chinese company. Are these the same?

It seems all the Chinese companies are in heavy competition in China, which is also affected Tesla. So now they’re going after the money in the European countries for more profit.
Yep, the playing field is getting awfully busy
 
Dave Hess said:
I can’t blame him for being a slithering snake to get that big $$$$ pay package.

Tesla is in shambles and will get worse.
Click to expand...

I'll blame him, complete scumbaggery. How much money does one need? He's ruining the lives of the people that made him what he is.
 
alarmguy said:
I can’t find that one granted I didn’t look that long, but there was something that started to trade today I believe and that was yet another Chinese company. Are these the same?

It seems all the Chinese companies are in heavy competition in China, which is also affected Tesla. So now they’re going after the money in the European countries for more profit.
Yep, the playing field is getting awfully busy
Click to expand...
Yes that's the company. I thought they said it would start trading tomorrow. In any event imo it is not good for TSLA. I saw this evening short seller Dan Moses upped his stake in his TSLA short, or is continuing to press his short. He sees the company at $50/ a share. I learned a long time ago to never say never when it comes to the stock market. There are dozens of stocks backing up that statement up. Interesting times ahead for sure.
 
demarpaint said:
Yes that's the company. I thought they said it would start trading tomorrow. In any event imo it is not good for TSLA. I ...
Click to expand...
Yes, actually your post was correct about it starting a day later, I read they moved it up one day! I didnt pay much attention but skimmed over it. The reason they decided to was the offering sold out (pre orders?) before it traded so they just decided to list it yesterday. (or something along those lines)
 
alarmguy said:
Yes, actually your post was correct about it starting a day later, I read they moved it up one day! I didnt pay much attention but skimmed over it. The reason they decided to was the offering sold out (pre orders?) before it traded so they just decided to list it yesterday. (or something along those lines)
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Yes, it should be interesting to see how much business it takes away from TSLA. The IPO was priced at $21/share.
 
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demarpaint said:
Yes, it should be interesting to see how much business it takes away from TSLA. The IPO was priced at $21/share.
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Like any new technology. There is the company that brings it to market and then everyone else jumps on the bandwagon = market saturation = lower prices and if lower prices cant be done, companies close up shop and the remaining are the survivors.

No different then when the personal computer arrived in the 1990s. Every level is super low for automobiles now (and getting lower), heck, we got Chinese Cell phone manufacturers producing automobiles, others producing automobiles under contract for other companies too.
The ICE was an obstacle for entry into the automobile marketplace. AN EV is an electric motor and battery produced by many companies and retrofitted will be the future.

I can see it now, bragging if you have a Samsung, LG or GE motor (maybe even GM since they are building battery packs for electrical storage in business) in your EV someday in the future, much will be standardized.
BITOG will be a discussion on what is the most efficient and reliable electric motor that produces the most HP
 
alarmguy said:
No different then when the personal computer arrived in the 1990s.
Click to expand...
Couple of decades off here, the personal computers were already being developed in the early 70s, with kits computers like the Altair 8800 being available in Dec 74. Apple 2, TRS-80, and PET all came out in 77 and the early 80s saw multiple other entries like the VIC20/Commodore 64, Atari 8 bit computers, and the IBM PCs and its compatible clones. By the 90s most of these computer manufacturers were getting out or going bankrupt as the standard had become the IBM PC compatibles for most of the market, especially small businesses.
 
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