
Elon Musk testifies he’s financially illiquid, court filing says - ryan_j_naughton
https://www.latimes.com/business/story/2019-10-16/elon-musk-testifies-defamation-case-cave-diver
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favorited
> he has said he has no plans to sell any shares

That's nice. Plans change if you end up owing legal damages.

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ars
It's not quite that simple he has to file in advance in order to sell.

Saying no plans to sell means he has not filed with the SEC saying he will
sell.

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favorited
He doesn't have legal damages yet, so of course he hasn't filed to sell his
shares at this point.

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bdcravens
Pretty much non-news. If he is ruled against in the defamation lawsuit, he
doesn't weasel out of paying via the "illiquid" argument. Liens can be placed
against stock.

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aiyodev
Musk’s attorney had the same opinion and expressed it with the exact same
words. What a coincidence!

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ohiovr
I did not know tesla stock is illiquid.

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ryanlol
Tesla stock held by Elon Musk is most definitely illiquid for some rather
reasonable interpretations of that word. As the CEO he can't just sell
whenever he wants.

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bgirard
I don't understand why any of this is an issue. He can get a loan to pay now,
file a 10b5-1 to sell stock in the future and repay the load then.

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ryanlol
It's not an issue, this is a non-story.

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masonic
Is there a GoFundMe for him?

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meitham
Your money can serve better causes elsewhere.

