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Latest Developments in the Tesla Fraud

Williams & Connolly LLP have removed themselves from Tesla entirely. 



As a side note, in the past, Williams & Connolly has represented many famous/infamous clients including Joe McCarthy, Jimmy Hoffa, John Hinckley Jr., and Bill Clinton. But they’re bailing on Musk.

In their place, Hueston Hennigan LLP.

Why are they notable?

John Hueston is a former lead prosecutor in the Enron trial involving Ken Lay and Jeff Skilling. 

He’s been hired to represent Musk after his Feb 19 tweet over production targets that violated the terms of his securities fraud settlement with the SEC from October. 

Production target was listed as 360k-400k in the official 8-K document submitted to the SEC. Musk’s previous misleading production claims are a matter currently involving FBI and DOJ investigations. Musk listed yet another different target in today’s media session: 

Another Detail

One month ago, Tesla said that SolarCity would begin selling Solar Roofs in its stores. 

Those stores are now being closed.

Interesting how just one “Subsequent Event” was listed in the 10-K. Now this quick turn of events. 

New Regulation FD Problem

During the closed media session, Tesla stated that it does not expect to be profitable in Q1, though, in its view, is “likely” to be profitable in Q2.

That’s a violation of Regulation FD, which prohibits public companies from selectively disclosing non-public information to certain groups of individuals without previous broad public disclosure. 

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