this post was submitted on 01 Aug 2024
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Everytime cases like this pop up all I can think of is all the times people have justified investors making so much money because of the risks they take. But whenever that gamble is a loss they pull this shit
What I'm about to say is coming directly from my own asshole, so if someone actually knows what they're talking about cares to explain why I'm wrong, I'm open to hearing it.
This feels like an attempt to try extract as much capital as possible before other civil lawsuits and/or regulatory actions are able to do to the same.
It certainly is, everyone is queuing up.
If the CEO was lying to the investors that's akin to being lied to about the odds of a slot machine. It should totally be prosecutable.
At the same time I don't feel sorry for them, and think they should be last in line after all the other victims
I was under the impression investors would be behind the 3rd parties hurt by this? Is that not how things work?
Also, retail investors are usually on the bottom behind institutional investors who can afford to big lawyers.
That is how capitalism works, privatize earning and nationalize losses.
Capitalism needs the deep pockets of the government to not collapse into itself.
I'm perfectly fine with it if they want to sue the company but I don't want these assholes to be bailed out by the government like SVB bullshit.