Tag: Insider Trading

Saudis backed taking Tesla private: Musk – Michael West

What was the SCAM is being investigated through the court

Elon Musk has testified that he was sure he had backing from Saudi financiers in 2018 to take Tesla Inc private, as he defended against claims he defrauded investors by tweeting later that year about his electric car company.

At a trial in San Francisco federal court on Monday, Musk told the investors’ lawyer Nicholas Porritt that he had met with representatives of Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, at Tesla’s Fremont, California, factory on July 31, 2018, and that “PIF unequivocally wanted to take Tesla private.”

The trial tests Musk’s penchant for taking to Twitter to air his sometimes irreverent views, and when the world’s second-richest person can be held liable for crossing a line.

At stake are millions of dollars for shareholders who claim they suffered losses after Musk tweeted in August 2018 that he had “funding secured” to take Tesla private at $US420 ($A600) per share, and that “investor support is confirmed.”

Source: Saudis backed taking Tesla private: Musk – Michael West

Old Dog Thought- Morrison abandons plain speaking to confuse and seem to be doing something when he’s not doing anything. “Yes we can see you and that’s not a hose your holding”

Fighting Fake News with REAL 3/7/21; Humour, Academic Freedom, Insider Trading;

At Least 2 GOP Senators Dumped Millions In Stock After Coronavirus Briefings | HuffPost Australia

Insider Trading that will not be prosecuted ” While Warning Donors But Reassuring Public, GOP Intel Chair Unloaded Personal Stocks Before Covid-19 Smashed Markets(ODT)

ProPublica first reported Thursday that Sen. Richard Burr (R-N.C.), the chairman of the powerful Senate Intelligence Committee, offloaded between $628,000 and $1.72 million worth of holdings in 33 transactions on Feb. 13, shortly after he publicly assured Americans the government was prepared to deal with the novel coronavirus that has since been declared a pandemic. A week after the sales, the stock market began to precipitously fall, erasing about 30% of its value.

Just hours later, the Daily Beast first reported that Sen. Kelly Loeffler (R-Ga.) began selling stocks jointly owned with her husband on Jan. 24, the day the Senate Health Committee held a private, all-chamber briefing from top American officials about COVID-19, the disease caused by the coronavirus. In a series of 29 transactions ending in mid-February, documented in Senate financial disclosures, Loeffler and her husband sold between $1,275,000 and $3,100,000 in stock.

The Georgia senator also made two purchases, including one in a company that owns teleworking software, the Beast noted. Loeffler’s husband is Jeffrey Sprecher, the chairman of the New York Stock Exchange. The pair are worth an estimated $500 million.

via At Least 2 GOP Senators Dumped Millions In Stock After Coronavirus Briefings | HuffPost Australia

ASX to sink as Donald Trump threatens to impose tariffs on Brazil and Argentina metal imports – ABC News (Australian Broadcasting Corporation)

A close-up photo of Donald Trump shows him pointing to the cameras.

People on the inside are forwarned of a Trump decision to bring the market down and the reverse and bring it back up wow easy money. (ODT)

via ASX to sink as Donald Trump threatens to impose tariffs on Brazil and Argentina metal imports – ABC News (Australian Broadcasting Corporation)