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James D. Rosener Quoted in Handelsblatt Article, 'Musk Is Working with Goldman Sachs and Silver Lake on the Stock Market Exit'

8/13/2018
James D. Rosener Quoted in Handelsblatt Article, 'Musk Is Working with Goldman Sachs and Silver Lake on the Stock Market Exit'

James D. Rosener, a partner in the Commercial Department of Pepper Hamilton, was quoted in the August 13, 2018 Handelsblatt article, "Musk Is Working with Goldman Sachs and Silver Lake on the Stock Market Exit."

Observers have taken the tweet with astonishment. "He made it clear that he was not sure of the funding at the time he said he was sure of it," commented James Rosener, a [lawyer] specializing in corporate law at New York law firm Pepper Hamilton, [on] Musk's blog post.

From a legal point of view, he has "made everything worse for him", Rosener is convinced. Finally, the recent lawsuits are about whether Musk told the truth at the time of the tweet when he wrote: "Funding secured."

"Anyone who has ever negotiated major financial deals knows that a deal is not a deal until it's signed out," Rosener explains. Tweeting could turn out to be a devastating mistake for him. "Either Musk is ill-advised or he does not listen to his advisers," says the lawyer.

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*This article is printed in German.

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