Tesla, Musk sued by shareholders over Robotaxi claims

You mean, a frivolous law suit with shareholder of 1 share. Is that Fred?

It’s about time

Pop goes the bubble. 🗑️ Brokies trying to inflate

[https://ca.news.yahoo.com/tesla-musk-sued-shareholders-over-125951536.html](https://ca.news.yahoo.com/tesla-musk-sued-shareholders-over-125951536.html)

Right on

Got my popcorn ready

And stock price barely goes down.

Hey guess what? That's the law. If you read about the lawsuit you'd know that they absolutely covered up that autopilot was on when that accident happened. The jury found it reprehensible thus the damages award. This represents massive liabilities for the company and it's questionable at best whether they properly disclosed this in their financial filings with the SEC. To make matters worse, this was Elon the day after the jury verdict: [https://x.com/elonmusk/status/1952057897694937451](https://x.com/elonmusk/status/1952057897694937451)

Can't tell if you're being serious and facetious. Assuming the former... Frivolous? I mean, Musk got on stage in April 2019 and confidently told the crowd that FSD would be complete by the end of the year, and a million robotaxis would be on the road by mid 2020 after a simple OTA update, FSD's price would only increase, car values would appreciate, and Tesla owners with FSD would make $30k per year while they slept. Musk... being the CEO of the company... and who has claimed to closely watch and interact with the FSD team... would have had material information, unknown to the public and shareholders, to make such a claim. And given the short time span he claimed, it would suggest a high amount of confidence that FSD / robotaxi systems were nearly ready to do. Now, 5.5 years on from the claimed FSD completion date, and 5 years from the claimed start of robotaxi service and enabling a million customer cars to become robotaxis... it's pretty clear Musk lied to investors based on material information? \_\_\_\_ But yes, it certainly could be someone who owns a small number of shares, or even someone who has since sold their shares but owned them during the period in question. It's a bit of a toss up of whether investors should be upset about this, or shouldn't care. They could be upset given that wild valuations being put on Tesla based on the CEOs confident claims, some of the valuations that Musk himself has agreed with. Such as Cathie Wood saying (and Musk agreeing) that the stock value should head up towards $2600 per share by 2029... or about $8 trillion. About as much as Nvidia and Microsoft combined. Since the market cap is only about $1 trillion, then they could claim Musk lied to them and cost them money. Especially if they've been holding the stock for the past 4 years or so, given that the shares have essentially returned zero added value over that time. Meanwhile, other investors may be ecstatic at the stock performance, which is clearly hyperinflated based on the company's real fundamentals/financials. I mean, the company's currently sitting at over 160 forward PE, which means the financials don't even come close to justifying this share price. \_\_\_\_\_\_\_\_ As I've said before though, if the share price does start to topple, then investors, especially those that are unhappy with the stock's performance over the last few years... will be far more willing to sue based on Musk's / Tesla's repeated false claims, which if investigated, I'm confident will show that Musk/Tesla blatantly lied with documentation of what the executives knew at the time of the claims. I have no doubt Musk knew FSD would not be ready by the end of 2019 and a million robotaxis would not be on the road by mid 2020. Nor 2021. Nor 2022. Nor 2023. Nor 2024. Nor 2025. Nor even 2026. I have no doubt Musk/Tesla knew that the 50% CAGR for vehicle sales between 2020-2030 was unachievable, even though they reiterated that guidance multiple times from early 2021 - late 2023.

Was this before or after they approved a 29 billion bonus for him?

The stock went down?

If only he had multiple over inflated stock companies or various Blockchain scams, I mean coins, he could use to funnel purchasing his own stock when even his board of directors dumps their shares. He's created a perpetual scam machine. Who gives himself company evaluations and roman salutes on the national stage? That guy

And the board gave him 29 billion dollars worth of stock. On top of the 12% he already had.

Tesla is cooked like their books. Brand reputation and public trust index is in the gutters. There is no revenue while slew of lawsuits in the pipeline, including class action for dumpster truck are starting to pile up and will require a large war chest to settle. A lot of people holding that stock will end up holding the bag, once all the wall street types will recoup their losses.

Tesla is a lot like Theranos, only Musk doesn’t face consequences.

“Concerning.”

Now sur over all the other lies, scams, and crimes.

The bonus was approved by the board, not the shareholders. Btw, the previous one of 50 billion was actually removed because of a legal dispute w/ the shareholders

Yep, sometime this bubble will explode and the weakest link, the retail investors, will pay the bill

It’s almost like the board should represent the shareholders interest. Would be a shame if it was filled with puppet isn’t it?

Lmao the hype/inaccurate info presented by Elon is the reason the stock price is so inflated.

I mean the board is like half elon and his brother lol.

I don’t remember being asked to waste money about suing him

They also have founders shares that get more than one vote per share. The total amount of stock they need to own to control the board is laughably small. There is so much risk holding this stock while his family can ruin the company with their top-heavy ownership share. They are also proving themselves to be total fuck up clowns that ran the company from the previous founders business plan that ran out with the development of the model y/3.

Would be nice if he hadn't gutted the regulatory and financial investigation departments illegally with DOGE.

And who the fuck are you?

Shareholders are used to lawsuits so this is just another day to them :/

>this was Elon the day after the jury verdict What The actual Fuck? I said to Mrs. Engunnear last night that he says and does things, just to demonstrate that he can get away with them. Case in point: Telling a bald-faced lie that directly contradicts the 'official' communication from Tesla.

Yep, I totally agree.

Oddly, the shareholders have also approved his astronomical pay packages, twice: In 2018 and again in 2024. [Tesla shareholders approve CEO Elon Musk’s $45bn pay package](https://www.theguardian.com/business/article/2024/jun/13/tesla-shareholders-approve-elon-musk-pay) It makes absolutely no sense.

yet

I own one share of Planet Kajigger, so Im entitled to some answers!!!

Wow

A shareholder

Just think about Hyperloop. It doesn't work, there was nothing produced only millions of tax payer dollars wasted. He's free because he's still rich.

Go to any Tesla fan sub and say this, they'll make sure to explain why they think it's right😂.

He said they’d build 5k robots in 2025

So a nazi loving Tesla fanboy with 1 share.

Years long scam

Coming from a nazi loving Tesla fanboy with 1 share

And you think you need to be consulted when other shareholders take action to protect their money?  How weird.

https://youtu.be/Rh0HLcf58UU?si=Zcf6za5xslPtvEZD

Trigger warning: Don't watch this of you are prone to hurt feelings. I'm just the messenger

B..b…b…billion? How much did the company make last year?

I once interviewed for hyperloop... The people interviewing me we ex spacex engineers and Exponent people who were very smart We had undergrad level 5 to 6 mech enter questions Followed by a gruelling one hour video interview I was expecting a on site next round.. But instead they asked me to solve a complex compressible flow problem that is doable but would require access to multiple journal papers etc. I had a trip to Alaska planned and I had to choose Asked them the salary .. 90k.. which was much below what I was making at that time. Said no thank you.

Yup. This is what is odd for me. Musk described it as a air cushion.... in a vac. Yet he had engineers that did not question that ? I think there was even a uni team that entered the competition with a compressed air driven sled.. in a vac tube.

Well it's 25% below Tesla's net income. Not last year's net income, of course, but Tesla's all time net income (not including the losses of the early years).

Stock market cap has risen almost $250 billon since August 2024. As long as the stock is going up, nobody cares that the fundamentals are going down.

He’s a loveable scamp.

Yeah my university tried to pay me to work on our hyperloop entry or whatever the hell. It was more of the fact that stupid people threw money at the idea because anything musk said people went crazy for. But it was fundamentally an idiotic idea from the very start. A vacuum that low would literally kill people inside if the tube was punctured. It would be like a bomb going off. So dumb.

Stockholm Syndrome

Because the vote made it clear that they were going to give Elon the same compensation package no matter what, but a "no" vote would require a new deal that would cost tens of billions in additional taxes. It's basically like giving someone the trolley problem and then saying, "Well, he voted to kill at least one innocent person!"

yeah, even chatgpt will be shocked at how they justifies it 🤣

Why such empty🤔

These "Automobiles" Will Never Replace Our Reliable Horses - A Gentleman's WarningThe New York Tribune - September 12, 1910Fellow citizens, I write to address the dangerous enthusiasm surrounding these mechanical "automobiles" that certain misguided inventors claim will replace our noble horses. Having owned fine horses for twenty years, I feel duty-bound to expose the fatal flaws in this automotive fantasy.The Range ProblemThese automobile promoters boast their machines can travel 100 miles - but what happens when you run out of gasoline in the countryside? Every village has hay and water for horses, yet these "filling stations" exist only in major cities.My horse can graze in any field and drink from any stream. Are we to believe every hamlet will install expensive gasoline pumps? A gentleman's horse provides true freedom to travel anywhere, while these machines tether you to a network of specialized fuel depots.The Refueling NightmareAutomobile enthusiasts speak of "quick refueling" in minutes, but where does one find gasoline at midnight? On Sundays? During emergencies? My horse requires only grass and water - available everywhere, at all hours, provided by nature herself.Furthermore, this gasoline is a dangerous, explosive liquid that must be transported and stored with extreme care. One spark near a "gas tank" could incinerate an entire city block!The Infrastructure ImpossibilityThese mechanical advocates claim their engines are "more powerful" than horses, yet this power depends entirely on a vast network of refineries, pipelines, and distribution systems that would cost millions to build.The horse infrastructure already exists - every farm, every stable, every pasture. We would be fools to abandon this proven system for the uncertain promise of a gasoline economy that may never materialize.Mechanical UnreliabilityIn winter, these automobiles refuse to start, their engines freeze, and their tires slip helplessly on ice. My horse adapts naturally to all weather conditions and has never failed to "start" on a cold morning.When an automobile breaks down, you need a specialized "mechanic" with expensive tools and mysterious spare parts. When my horse is tired, she simply needs rest and feed - repairs any farmer can provide.The Economic FollyThe initial cost of these contraptions often exceeds a stable full of fine horses, yet they depreciate rapidly and require constant mechanical attention. A good horse improves with training and can work for decades.Moreover, horses reproduce naturally, creating additional value. Has anyone ever seen two automobiles create a third? The very notion is absurd!Environmental ConcernsThese machines belch noxious smoke that poisons our air and frightens children. Horse manure, by contrast, enriches our soil and supports agriculture - it's nature's own fertilizer system.The noise alone is unbearable - the peaceful clip-clop of hooves replaced by mechanical roaring that disturbs the entire neighborhood. What manner of progress is this?The Social OrderA gentleman on horseback commands respect through his skill in managing a powerful, intelligent animal. Operating an automobile requires no such mastery - any fool can learn to push pedals and turn a wheel.We risk losing the noble art of horsemanship, the bond between man and beast, and the character-building discipline that comes from caring for living creatures.A Practical ConclusionWhile these automobiles may serve as amusing novelties for wealthy sportsmen, practical transportation will always depend on the horse. They are reliable, self-maintaining, and supported by thousands of years of proven infrastructure.These mechanical contraptions may work adequately on smooth city streets, but America's future lies in rural expansion where horses remain indispensable. No automobile will ever match a horse's intelligence, adaptability, and independence from artificial fuel systems.Mark my words - in twenty years, we will look back on this automobile craze as an expensive folly. Our horses will still be here, faithful and true, ready to serve as they always have.Mr. Theodore Ashworth is president of the Manhattan Equestrian Society and has bred champion horses for two decades.

"He AcHiEvEd ThE iMpOSsIbLe" Like shut the fuck up, it's very clearly in back and white in the judgement that internal predictions showed them meeting the targets regardless. But then they just pivot to how much value he generated for investors which yeah cool he did that, but that's got nothing to do with the comp package lol

It's amazing they vote to devalue their own stock

>(not including the losses of the early years) I don't think that's how net vs. gross works...

It's like a bit of Theranos and a bit of Enron, all in one.

Remember Andrej Karpathy?

Was the cyber truck all Elons idea?

A suitable comment in ev's. But your critique forgot not working in wet weather yet requires 2 supervisors (one in the carriage, one in the office).

The original owners of Tesla that Elon usurped the company from laid out a business plan that ended with the model 3/y platform. They may have had extended notes on possibly offering a truck but the design, inception, announcement, feature set, etc all came from Elon. The cyber truck in its current incarnation was his idea. He cargo culted the solution SpaceX developed for shell materials into the cyber truck exoskeleton that was abandoned for the aluminum frame and stainless steel we have today. His twitter and press conferences outline the design and implementation of the cyber truck over the last.... What.. 10 years? Its all Elon. The cyber truck his his baby, at least it was until the earning report directly before the release, and he suddenly started saying "we might have..." With Elon any success is his, and any failures roll downhill to whoever he feeds to the underside of his bus. He is a shitty pigeon manager. All of this is my opinion, I am not a journalist and my standard of proof is not one news should be based on with out significant fact checking

The numbers were for the net incomes per year. You can substract the early losses, should be about 5 bil. Gross income is something different, though.

My point was that you were (apparently) omitting Tesla’s early losses.

it appears that Musk introduced Hyperloop less as a realistic transportation plan and more as a gambit to derail California’s bullet‑train project, which he disliked and may have seen as a threat to Tesla’s dominance in automotive transit. That doesn’t mean he succeeded- CA high‑speed rail is still under way, though deeply delayed but the original intent aligns closely with strategic opposition more than engineering feasibility.

They should have sued him back in 2019 when he was already a year late delivering full self drive. Tesla's business model is just straight fraud in every sense of the word at this point. This is Elizabeth Holmes theranos style con job shit. Elon belongs in jail.

That was the board

Yep, crazy taint it!

how everyone is worried about other people's money, every smart guy and activist judge thinks that he knows better than shareholders what to do with shareholders' money

they were supposed to pay 50 billion and shareholders confirmed it twice. instead they will only pay 30 and people like you are still whining

If you read what they are doing. The 29 billion is a work around of the judges orders. Not a whole new deal. He will probably still get the whole 50 billion. Which he doesnt deserve.

they don't need to get around the judges ruling. they moved to another state and could hold another shareholder vote. a court ruling in another state has no effect. it's not up to you or the judges to decide who deserves what, it's the shareholders' money. you're just trying to justify breaking the agreement because of a personal grudge against musk

Well, considering your account is 3 years old with 8 or 9 comments. And this is what you decide to comment on. I'll assume you are fine with musk destroying the brand. Musk gutting our federal government to get rid of the investigations of his companies illegally, musk being a white supremacist and musk nerfing the technology of his own companies. Musk calling everyone but himself an npc. Musk making baseless claims such as the Thai rescuer incident. Need I go on?

It begins?

Omitting? I literally said that they are not included and my calculation of 75% all time income was already ridiculous and devastating for Tesla.

Then that’s not net.

the bigger the tube the more people would die too. it would implode pretty much instantly across the entire tube. but is that even relevant to even say before a vacuum tube that large is created in the first place? there have never been a vacuum so large anywhere on earth being created. the LHC is 'only' 9000 cubic meters. considering a tiny ass circular tunnel with 3 square diameter, the tunnel would only be 300+meters. it would not be anywhere functional as a transport system.