Tesla's Board of Directors Hire Lawyers Following Elon Musk's Tweets

Musk’s tweets continue to stir the pot.

By
Tech
17,228 Hypes 17 Comments

Tesla‘s board members are in crisis mode following CEO Elon Musk and his ongoing tweets about taking the company private, to the point where some members have lawyered up to guard themselves against legal vulnerabilities. These same board members are also telling Musk to stop talking about this private deal on social media, which appears he’s completely ignored.

Musk’s approach of financial strategy is unprecedented, and as a result of the publicity, Telsa is now facing multiple lawsuits from shareholders and independent members. The latter has hired law firm Paul, Weiss, Rifkind, Wharton & Garrison to address Securities and Exchange Commission’s statement of monitoring the private company deal. The firm will assist them with an official proposal from Musk to take Tesla private, which could turn into a “full-blown investigation” once SEC gets involved.

In related news, Musk and his girlfriend Grimes are feuding with Azealia Banks.

Read Full Article
Source
business insider

Join Our Discussions on Discord

The HYPEBEAST Discord Server is a community where conversations on cultural topics can be taken further.

1392 Users Online

What to Read Next

This Abandoned Spanish Convent Is Filled with Impactful Artworks
Arts

This Abandoned Spanish Convent Is Filled with Impactful Artworks

As part of a two-month residency hosting over 50 multidisciplinary artists.

Nebu Kiniza Surprises Fans With New Project 'From Me 2 U'
Music

Nebu Kiniza Surprises Fans With New Project 'From Me 2 U'

There are no guest appearances on the tape.

032c Drops Frank Ocean Iron-On Patch Kit
Fashion

032c Drops Frank Ocean Iron-On Patch Kit

Straight from the cover of issue 33.


8 Drops You Don't Want to Miss This Week
Fashion 

8 Drops You Don't Want to Miss This Week

Featuring items from Palace, BAPE, Hiroshi Fujiwara’s THE CONVENI, and the first FW18 drops from Supreme.

Ryoji Ikeda Brings Massive Audiovisual Installations to Centre Pompidou
Arts

Ryoji Ikeda Brings Massive Audiovisual Installations to Centre Pompidou

A two-part exhibition entitled “continuum.”

Meet Doja Cat, the Woman Responsible for the Internet's New Obsession With Cows
Music 

Meet Doja Cat, the Woman Responsible for the Internet's New Obsession With Cows

The singer has everyone singing “Mooo!”

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Help us serve you better

We appreciate your support in allowing HYPEBEAST ads, where we can share contents from the latest fashion, to those culturally relevant. In adding HYPEBEAST to your ad blocker's whitelist, ads on our sites will show while you continue to browse.