That’s the advice of John Coffee, a securities law professor at Columbia University Law School in New York City, who along with the rest of the investing world remains clueless about what Musk meant when he said he had “funding secured” for a buyout that would take the electric car company private. Tesla’s market value would be about $70 billion at $420 per share, which was Musk’s suggested takeover price.
“If I were representing Tesla or Musk, I’d try to get a quick SEC settlement, apologizing, making corrective disclosures, not fighting them,” Coffee said.
via Elon Musk Should Apologize Before Facing Class Action Suits and SEC Enforcement – TheStreet.
