This is why he was tweeting so much about bots (real or not) and a million other excuses why he didn’t really want to buy it at that price - he was trying to sink the share price. And this lawsuit is a class action suit by those who owned said shares - He pissed off rich people, so something painful might actually come of this.
Ya know…I feel like we should punish for these types of things differently. A billionaire paying thousands in fees is like me checking the couch cushion for coins to pay a fine.
I say bring back the stocks in public square.
You wanted a public platform? Here ya go.
Probably a 5000$ fine.
He’s going to have to pay damages, reimbursing investors for the loss caused by his BS.
Because it is a class action case, it is not clear what amount in damages Musk will have to pay to thousands of shareholders, many of them institutional investors, but it is likely in the billions. The jury awarded shareholders between about $3 and $8 per stock per day.
What is “per stock per day”? Per share per day? And for how many days?
Yeah. The terms are used interchangably.
As for the number of days, that depends on when each of the investors who filed the suit bought their shares. IIRC it was a couple of months between those tweets and when the deal was finally completed, so he might end up paying out a few hundred bucks per share for the earliest buyers.
I’m sure we’re all gonna laugh at the punishment.
No, we’ll grumble at the punishment. Musk will laugh at the punishment.
You mean gamble at the punishment. Polymarket gonna blow up. Because we have no future, we are doomed.
Execution.
Drawn and quartered.
Bit quick, but I’m going to allow it.
