Tesla Files Lawsuit Against Oil Industry Exec Who Pretended To Be Elon Musk

SEP 19 2016 BY STEVEN LOVEDAY 12

Tesla CEO Elon Musk

Tesla CEO Elon Musk

Tesla is suing an oil industry executive for impersonating Elon Musk. It’s crazy to see what people will do because of greed, and in an attempt to get a step ahead. And to believe, in this day and age, that you would have any chance of getting away with it …

Tesla Model 3

Tesla Model 3

Todd Katz, chief financial officer for Quest Integrity Group, impersonated Elon Musk via an email message, to get access to inside information. Quest Integrity Group is a service provider for BP, Chevron, ExxonMobil and other oil and gas companies. Contrary to the company’s name, it seems Katz has lost his integrity.

Katz sent an email from a fake account (elontesla@yahoo.com) to Tesla’s CFO Jason Wheeler. It requested non-public information following the company’s Q2 earnings call. The style of the message was in Katz’ version of “Elon speak” and the email address used, closely resembles one that Musk has used before. The message read:

why you so cautious w Q3/4 gm guidance on call? also what are your thoughts on disclosing M3 res#? Pros/cons from ir pov? what is your best guess as to where we actually come in on q3/4 deliverables. honest guess? no bs. thx 4 hard work prepping 4 today

Fortunately, Wheeler didn’t provide the secure information. Tesla has investigated the matter and found that up to ten others were also involved. Tesla is asking for an undisclosed amount of financial compensation as well as reimbursement for the cost of its investigation and legal costs. Tesla’s attorney John Hueston explained:

“The point of this action is that this was perceived as an effort to gain inside information, non-public information. Although it was caught here, Tesla is worried about this happening in some other form. This could have resulted in highly valuable information being improperly disclosed.”

Katz has not yet responded to Forbes’ request to speak with him. Hopefully, he doesn’t get back to them, claiming he’s Elon Musk …

Source: Forbes

Categories: Tesla

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12 Comments on "Tesla Files Lawsuit Against Oil Industry Exec Who Pretended To Be Elon Musk"

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This was extrmely odd….

Elon (the real Elon, not the fake one) noted that during certain periods, Tesla’s stock has been the most highly shorted stock.

So yeah, it’s not surprising that the various serial Tesla basher posts aren’t the only places where people are committing fraud in an attempt to dishonestly benefit from investing in Tesla’s stock.

Quoting from the Legal Dictionary website:

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Fraud

A false representation of a matter of fact —- whether by words or by conduct, by false or misleading allegations, or by concealment of what should have been disclosed — that deceives and is intended to deceive another so that the individual will act upon it to her or his legal injury.

Fraud is commonly understood as dishonesty calculated for advantage. A person who is dishonest may be called a fraud. In the U.S. legal system, fraud is a specific offense with certain features.

http://legal-dictionary.thefreedictionary.com/fraud

Fits “Birther / Anti-Climate Change” Trump well. He’s pretending to be a Presidential Nominee. 😉

If you love BEVs– dump Trump. He will let Putin sell all the oil he wants. 🙁

And Hillary will somehow stop Putin from selling all the oil he wants? And why didn’t Obama stop Putin from selling all the oil he wanted? ¯\_(ツ)_/¯ Please explain.

I have the hunch that sven the troll is the one who did the false representation of Elon.

Obama (along with International Allies) have limited Putin’s oil imports to the US and world, by upholding current sanctions against Russian Oil Sales, for retaliation for the Crimea Annexation. Do you not remember?

Trump, Koch Bros. & GOP, if in power: would repeal domestic Federal EPA air quality regulations– thus fueling demand for Russian Oil imports. His soft stance on Putin indicates he would not uphold current international economic sanctions. Sanctions that are currently helping bankrupt the former Soviet Union.

And as you also probably know, most of our high sulpher oil extracted domestically, is sold to East Asia. So, higher quality Russian Oil would be far more desirable for a number of industries, if it were made more readily available on the market.

No policy deviations from Obamas’ administration have been indicated, should Ms. Clinton win the election. That’s how.

Does that help?

Great comeback, use of facts to counter sven’s FUDing lack of facts.

Fact? Where. Russia just set a new record for oil exports:
http://www.bloomberg.com/news/articles/2016-07-03/russian-oil-exports-set-for-record-as-europe-competition-grows

Since the 2014 sanctions Russia production is up, exports are up and even exports to the US are up:
http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MTTIM_NUS-NRS_1&f=M

The bit about US exporting most of our oil to Asia is just gibberish. We import a bunch of oil and export very little. The little we do export is light, sweet oil, not high sulphur stuff. All that new shale oil is “too good” for our high complexity refineries. So we export a little to counties with low complexity refineries and import heavy, sour that are refineries were built to handle.

Anon, I appreciate you posting actual facts to refute one of sven’s typical B.S. posts, but seriously… how did my posting a legal definition of “fraud” degenerate into a partisan political argument?

Could we all give that a rest. Please!

I think the info that scares them the most is where he wrote about disclosing M3 reservation numbers “Pros/cons from ir pov” (Investor Relations Point of View). The oil industry is peeing their pants as the unexpected boom in EV sales that M3 reservations represent. Because even if Tesla can’t convert 100% of these reservations into sales, chances are VERY high that these reservation holders will buy electric in the future. Whether they buy a Bolt instead, or some PHEV, it doesn’t matter. Each reservation symbolizes a lost customer for the oil industry. Let’s be clear. There are still a ton of gas vehicles out there for the short term. But the oil industry has always believed that any transition to EV’s would be very slow. M3 reservations represent a huge change in the rate at which people are adopting EV’s compared with the past. There are 2 factors that scare them: 1) Investment in oil infrastructure is typically planned as a 40 year investment. As in if they invest 100 Million in something today, how much profit will it produce over the next 40 years. A massive shift to EV’s within those 40 years would mean a big shift… Read more »

To think that someone has even a sliver of hope that such a discussion of the requested information with Elon would take place over email with a previously un-acknowledged email address, or that it would likely take place over email at all, possibly suggests the level of counterparty sophistication that Katz is used to experiencing with at his usual clients or their targets.

Tesla should let this incident go and use its resources to sue the Federal Government over the billions of dollars of subsidies granted to the oil and gas industry to the detriment of the EV industry and alternative energy in general.