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Polixenes
@Polixenes13
, 3 tweets, 1 min read Read on Twitter
1/ Interesting. Elon's pit bull, John Hueston, wants to file a sur-reply in which he would "submit documentation reflecting the negotiation history between the SEC and Mr. Musk and Tesla." $TSLAQ
2/ I'm guessing the Court may allow the sur-reply, which would be due on March 22. As for that documentation of "negotiation history," though, Her Honor will no doubt be reminded of Rule 408 of the Federal Rules of Evidence. law.cornell.edu/rules/fre/rule…
3/ With very narrow exceptions, evidence about settlement discussions is inadmissible. The link sets forth the Rule and the reasons for it. But, let's face it, desperate times call for desperate measures. Fight, Elon, fight!
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More from @Polixenes13 see all

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Polixenes
@Polixenes13
1/ A few further thoughts about the SEC's contempt motion. Prompted by a question from a friend who asked, "The Judge just has to rule on Musk's sur-reply motion today, right?" $TSLAQ
2/ My friend, I'm sure, was thinking that Elon Musk's attorney, John Hueston, had asked for permission to file a sur-reply of no more than 10 pages no later than March 22. And today is March 21.
3/ Well, this may surprise you but, no, Judge Nathan does not have to rule on that motion today. Or even tomorrow. Let's consider.
Read 9 tweets
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Polixenes
@Polixenes13
1/ A few observations about the SEC's contempt motion. First, while both $TSLA and Musk were sued back in September, and both signed consent judgments, the SEC has filed its motion only against Musk.
2/ The SEC has until the end of the day tomorrow to file a reply brief. This follows the typical cadence of motion, response, reply. Sometimes a non-moving party will ask for a "sur-reply," but that's rare and disfavored.
3/ There's no hearing tomorrow. Just the electronic filing a brief that will likely be 10-15 pages or so. Then the parties have another week (until March 26) to advise the Court whether they want an evidentiary hearing.
Read 22 tweets
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Polixenes
@Polixenes13
26/ I ran out of room with this thread. So, I continue it here. Not for long, I promise.
27/ The SEC is in a difficult spot. In my lifetime, I have never witnessed a company and its CEO so brazenly defy the SEC's authority than Musk and $TSLA are doing here.
28/ This will be a fascinating drama to watch play out. So many wild cards. Elon Musk. The discretion vested in Hon. U.S. District Court Judge Natan. All the goings-on behind closed doors. The counsel being given to Murdoch, who has a lot to loose...
Read 9 tweets

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