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8 Jan, 6 tweets, 2 min read
Updated! In Re Tesla Motors, Inc. Stockholder Litigation: plainsite.org/dockets/32atfy… $TSLA
It was probably a good idea to sell some stock.
(This is not from a court order, it's from the Plaintiffs' Post-Trial Reply Brief.)
If and when $TSLA files for bankruptcy, it will be a similar situation.
Having over $11 billion in stock rescinded on account of a court finding fraud could pose some problems for Elon.
Such a ruling could, at least in theory, cause a drastic and sudden drop in the share price of $TSLA, force Musk out as CEO, and leave him and his companies subject to hundreds of lawsuits and/or bankrupt.

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More from @PlainSite

PlainSite Profile picture
7 Jan
We released our $TSLA Reality Check report two years ago on January 7, 2020. It was then and remains the most comprehensive exposé of Tesla, Inc.'s unlawful and fraudulent business practices written.

While the stock has gone up—a lot—the question is: why?
With the benefit of two additional years of research, much of which is documented at plainsite.org/profiles/tesla… for the public to view at no charge, the answer is clearly multi-factorial. But one major factor is, without a doubt, that $TSLA is the largest Ponzi scheme in history.
That the world's wealthiest man is so because he managed to defraud millions of investors while eluding accountability by the SEC, the FTC, NHTSA, USDOE, USDOL, USDOJ, CA DMV, CAEATFA, the judiciary, Congress, *and* institutional investors is a solemn reflection on society.
Read 6 tweets
PlainSite Profile picture
3 Jan
We will be starting off 2022 with about 3,000 pages of $TSLA e-mails released by New York State which, when combined with other documents, prove that Tesla committed multiple types of fraud, lied to New York, and lied to investors.
Before posting the links, the most important context can be found in three separate documents.

The first is found in Greenspan v. Qazi et al, Document 149, Attachment 14, Page 4. That would be Panasonic's USDOL request for labor re-training assistance. plainsite.org/dockets/49sdnb….
The second is Tesla's Q4 2019 Update slide deck for investors. Note page 9, the bottom paragraph. tesla-cdn.thron.com/static/O7WXQA_…
Read 14 tweets
PlainSite Profile picture
28 Jul 21
Mark just gave the media a shiny ball (buzzword) to distract from his and the company's literal crimes and it's working perfectly. Why write about fake accounts and securities fraud when there's the "metaverse," which does not exist? $FB
(Not to pick on Ryan Mac—now every journalist who covers Facebook feels compelled to repeat the idiocy of the man-child in charge. See also Elon Musk, Donald Trump, etc.)
Nothing requires the media to allow billionaires to unilaterally set the agenda. This is a good example of pushing back—but not by @CaseyNewton.
Read 4 tweets
PlainSite Profile picture
28 Jul 21
Facebook $FB admits that it has run out of humans to scam and exploit, as Sam Lessin first warned Mark Zuckerberg in 2012. The company's only real growth is in fake accounts, as has been the case for years.

Yet reporters still repeat the company's lies about billions of users.
This is yet another investor deck that shows an actual *decrease* in daily/monthly active users across certain geographies. Note the peak of 198 million U.S. "users" (actually, accounts, many of them fake) in Q2 2020—never again achieved as of yet.

Red alert.
As usual, $FB provides the public with stale (seven months old), false, completely inaccurate data about its massive fake account problem, referred to internally as SUMA. Meanwhile, @SEC_Enforcement, @FTC, and Congress do nothing. CC: @GaryGensler @chopraftc
Read 4 tweets
PlainSite Profile picture
27 Jul 21
This quote from Kimbal Musk, under oath, might be the most important statement in the entirety of the SolarCity/$TSLA trial. The Musk family ethos, "relentless optimism," is responsible for everything good and bad about Tesla. It also more broadly reflects the zeitgeist.
Previously, his brother Elon said something similar when he was discussing the failure of Solyndra at the National Press Club. The message was, in essence, lie or die. Elon has stuck to that.
The brothers Musk have a point. Relentless optimism is an incredibly effective strategy for getting through dire situations. That's why optimism is taught in (and found at) business schools. But you can't run a company on optimism alone. See also, Theranos.
Read 6 tweets
PlainSite Profile picture
26 Jul 21
PlainSite's PRA request to the California DMV was indirectly cited in a judicial decision in Santa Barbara County issued last week. $TSLA will have to defend against allegations that it made fraudulent claims about "Autopilot." Image
The judge also refused to dismiss a False Advertising Law claim involving both "Autopilot" and "Full Self Driving" terms. Read the full decision here:

Alexandro Filippini et al v. Tesla Inc: plainsite.org/dockets/4jklm9… $TSLA Image
$TSLA faces the prospect of an injunction in this case that could forbid it from continuing to sell "Autopilot" and "Full Self-Driving" features to the public. Image
Read 4 tweets

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