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Polixenes @Polixenes13
, 12 tweets, 4 min read Read on Twitter
1/ My favorite part of the Vern Unsworth defamation complaint against $TSLA's Elon Musk is footnote 4, explaining what a stupid idea Elon's tube was...
2/ A single, short phone call to Unsworth would have sufficed to inform Musk of the many reasons why the tube was impractical. But Musk wanted to bask in adulation throughout the rescue drama as newspapers endlessly reported that the Visionary was coming to the rescue...
3/ Here's footnote 4:
4/ And here's a link to the U.S. federal court complaint. Remember there is a parallel action in the U.K. courtlistener.com/recap/gov.usco…
5/ It appears from the federal court docket that, rather than file an answer, Musk will move to dismiss the complaint as a matter of law. And, in fact, defamation actions in the U.S. face huge legal obstacles.
6/ Having studied this case carefully, and knowing more than a little bit about defamation law, I believe Musk will lose his motion to dismiss. In taunting Unsworth, he simply didn't know when to quit. Regardless of the result in the U.S., in the U.K. Musk faces real jeopardy.
7/ And, yes, there were literally hundreds of news stories throughout the rescue drama that mentioned the billionaire genius & his heroic efforts. Here is but one example. dropbox.com/s/ihcd68e9go75…
8/ A smart take from a smart lawyer on Unsworth v Musk. popehat.com/2018/09/17/cav…
9/ Let's add two links that show why Musk faces more peril here than he would were he merely a celebrity who was not, at the time of his tweeting, Chair of the Board and Chief Executive Officer of a $50B+ (market cap) corporation...
10/ First, an April 2, 2013 announcement from the SEC that public companies can use social media to disseminate information under Reg FD (excerpt & link to full notice below): dropbox.com/s/6b8t2jrtxa51…
11/ And second, $TSLA's response in a Nov 5, 2013 8-K, advising investors that it discloses material information through, among other outlets, social media (Item 8.01) and the specifically inviting investors to check out @elonmusk's twitter feed: sec.gov/Archives/edgar…
12/ I'm curious to learn whether @Popehat was aware of these and, if not, whether he sees any added vulnerabilities to Musk from $TSLA's 2013 announcement, which has never been rescinded or amended.
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