Anonymous ID: 0171cd Oct. 7, 2022, 7:32 a.m. No.17650450   🗄️.is 🔗kun   >>0941 >>1375 >>1698 >>1709

Tesla announces a plan for a three-in-one 'stock split'to make shares cheaper and more accessible - freeing up more cash for the Elon Musk-owned company: Larry Ellison, 77, is leaving the board

 

Elon Musk's company made the announcement in their latest SEC filing, published on Friday, and said the annual meeting will be held on August 4

Tesla announced they were issuing four billion new shares in a three-in-one 'stock split' - a scheme they first floated in March this year

The procedure, approved by the board but needing shareholder approval, increases the number of shares, without diluting the value

The effect is to make each individual share significantly cheaper, and attract new buyers and an injection of cash

Tesla's shares closed on Friday at a little over $696 per share, meaning that if the split were to happen today, its stock would be worth $232 a share

The company said the move was to 'reset the market price of our common stock so that our employees will have more flexibility in managing their equity'

Tesla in August 2020 announced a five-in-one stock split, and the share price jumped 80 percent on the news

June 10, 2022

 

"Tesla has informed shareholders that it intends to complete a three-in-one 'stock split', designed to increase the number of shares available and bring down their price.

 

The update was published on Friday, as part of their latest SEC filing, which also announced an August 4 date for the annual shareholder meeting, and said that billionaire software magnate Larry Ellison, 77, was stepping down from the board.

 

Under the proposal, which the board has approved and now needs shareholder agreement, a person owning one share will now own three, with each of those shares worth a third of the original one."

Tesla's shares closed on Friday at $696, meaning that if the stock split went into effect immediately, each share would be worth $232.

 

The company said the scheme was to benefit their employees, saying it was designed to 'reset the market price of our common stock so that our employees will have more flexibility in managing their equity'.

Analysts said that the move was likely intended to encourage more people to buy shares, and bring a wave of new cash into the company.

 

Tesla's last stock split was in August 2020, with a five-in-one move that forced the share price up 80 percent.

 

Alphabet, the parent company of Google, and Amazon have also announced stock splits earlier this year.

 

Sauce/moar: https://www.dailymail.co.uk/news/article-10905617/Tesla-announces-plan-three-one-stock-split-make-shares-cheaper-accessible.html

Anonymous ID: 0171cd Oct. 7, 2022, 7:40 a.m. No.17652007   🗄️.is 🔗kun

Indiana Attorney General Files Lawsuit Against Black Lives Matter Global Organization

 

Indiana Attorney General Todd Rokita has filed a lawsuit against the Black Lives Matter Global Network Foundation.

 

Rokita’s office began investigating the organization’s donations in February and announced the lawsuit on Thursday.

 

According to a press release, the Office of the Attorney General is seeking an order requiring BLM to respond to a Civil Investigative Demand that was issued to the organization.

 

“Protecting Indiana consumers from this house of cards is critical,” said Attorney General Rokita. “There are concerning patterns of behavior from this organization, and we will do what it takes—including this lawsuit—to get to the bottom of it.”

 

Rokita’s office said that “in a 2020 report published by BLM, the organization stated it raised over $90 million in 2020, while it distributed approximately $21.7 million to 30 local organizations and affiliated chapters, including an affiliated chapter in South Bend, Indiana.  However, an IRS filing by BLM for the first half of 2020 listed the organization had $0 in revenue, expenses, and assets held by BLM for the time period.”

 

“Attorney General Rokita issued a Civil Investigative Demand to BLM in order to determine if the organization’s actions constitute a violation of either the Indiana Deceptive Consumer Sales Act or the Indiana Nonprofit Corporation Act.  The Civil Investigative Demand seeks information and documents held by the entity relevant to the ongoing investigation to ensure transparency to donors and guarantee funds donated by Indiana residents are used for their intended purpose and not for the personal benefit of BLM directors,” the press release explained.

 

Failing to comply with the demand could mean that the organization would be barred from fundraising in the state.

 

“There are many Indiana stakeholders and donors who have been impacted by these allegations. This lawsuit will allow for a court to swiftly and efficiently resolve the state’s request for information,” said Attorney General Rokita.

 

Hoosier donors who believe they have been impacted are encouraged to file a consumer complaint at www.indianaconsumer.com.

 

https://www.thegatewaypundit.com/2022/04/indiana-attorney-general-files-lawsuit-black-lives-matter-global-organization/