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Government sues Elon Musk for tweeting about taking Tesla private [engadget.com]:

Am considering taking Tesla private at $420. Funding secured.

— Elon Musk (@elonmusk) August 7, 2018 [twitter.com]

"According to Musk, he calculated the $420 price per share based on a 20% premium over that day's closing share price because he thought 20% was a 'standard premium' in going-private transaction," the suit alleges. "This calculation resulted in a price of $419, and Musk stated that he rounded the price up to $420 because he had recently learned about the number's significance in marijuana culture and thought his girlfriend 'would find it funny, which admittedly is not a great reason to pick a price.'"

News of the lawsuit sent Tesla's stock into a tailspin, dropping more than 7 percent in late afternoon trading on Thursday. This isn't the only investigation that Tesla and its embattled CEO are currently facing. the Justice Department is reportedly looking into whether Musk misled investors with those tweets [engadget.com] and the CEO himself is embroiled in a defamation suit with the Thai Cave rescue diver, whom Musk called a "pedo guy" in August as well.

United States Securities an... [scribd.com] by on Scribd

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