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It is 4:20 pm, which means Tesla CEO Elon Musk could be tweeting.
This time, the tweet of the billionaire entrepreneur denied an article in the Financial Times in which it was reported that the CEO of Twenty-First Century Fox and Tesla Board Member James Murdoch was the main candidate for the position of president of Musk. Musk agreed in an agreement reached on September 29 with the US Securities and Exchange Commission resign as president within 45 days. Musk, who did not admit that wrongdoing had been committed under the settlement, was also fined $ 20 million. Tesla was also fined and the company agreed to other conditions, including the addition of two independent members to the board of directors.
Musk tweeted that the report is "incorrect".
FT's report, quoting anonymous people informed of the president's talks, also said Musk is in favor of Antonio Gracias, Tesla's chief independent director. Musk was informed that Gracias might not be considered sufficiently independent.
The Musk tweet was sent at 4:20 pm PT, which is obviously a pure coincidence and that has absolutely nothing to do with marijuana or with a 'wink eye' to what triggered the investigation of the SEC and the securities fraud complaint.
The complaint to the SEC alleged that Musk had lied when he tweeted on August 7 that he had "secured funding" for a private takeover of the company at $ 420 per share. The federal securities regulators reportedly issued a subpoena to Tesla only a week after the tweet. Investigations can take years before action is taken, if at all. In this case, charges were laid only six weeks later.
The complaint contains a number of revealing details, including the fact that he had spoken to the board of directors of an offer to privatize Tesla as early as August 2, when he had sent a courier to the Administrative Board, the Chief Financial Officer and the Tesla General Counsel. the subject, "Offer to take Tesla Private at $ 420."
According to the complaint, Musk calculated the price of 420 dollars per share on the basis of a premium of 20% over the closing price of the day's action, thinking that 20% was a "premium standard "in closing transactions.
This calculation resulted in a price of $ 419. Musk said that he had rounded the price up to $ 420 because he had recently learned the importance of the figure in growing marijuana and that he thought his girlfriend would "find it's funny, which is not a good reason to pick a prize, "according to the complaint.
The presiding judge instructed the SEC and Musk to submit a letter by October 11 before approving the settlement.
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