Complete Solaria Chairman Invests in CSLR
DENVER, Colo., Apr 22, 2024 (247marketnews.com)- Complete Solaria, Inc. (NASDAQ:CSLR) provided an updated memo detailing last week’s short attack on Complete Solaria’s stock.
Complete Solaria Chairman T.J. Rodgers stated, “As an indication of my belief in the company last week, I converted $5 million of my CSLR debt to equity.”
A link to yesterday’s memo can be found here.
Among other items, the memo stated, “The point is that these two private equity people were the only people to have this inside information that their executive chairman, an experienced operations executive, intends to walk off on them unless they find a way to remove the financial boa constructor. Of course, this strong circumstantial evidence does not prove that Kline-Hill or Carlyle did this to us or enabled others to do it. Their firms have Compliance Departments to prevent these problems. And although these departments have thick rule books to prevent trading without permission, they cannot prevent someone having a cocktail with a friend who owns a million shares from saying, “I don’t think TJ is going to stick around at Complete Solaria.” Thus, we will also request an investigation by the Security and Exchange Commission, which has the subpoena power to scan phones.”
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