Oh Elon – Bloomberg

Well, look, it is a weird feature of US securities law that shareholders regularly sue companies for misleading them, and those companies regularly settle those lawsuits, and the companies pay money to the shareholders, but the money comes from the shareholders. The money belongs to the shareholders, so paying it out as damages seems counterproductive. I suppose there are some differences. (If you owned shares at the time of the fraud, and you don’t now, you get some money at the expense of the current shareholders. Plus insurers probably pay some of it.) Still it is going to be very funny if Musk ends up buying Twitter, sues it for misleading him into buying it, wins and pays himself damages.

Source: Anti-ESG Can Be Good Business – Bloomberg