Class Action Elio Lawsuit Has Over 800 Signatures...

[TexasTesla]

This class action lawsuit against Elio Motors has more than 800 signature from Elio reservation holders...

The comment section of their website makes for interesting reading...

https://www.ipetitions.com/petition/petition-to-file-class-action-lawsuit-against-elio

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[84mpg]

Congratulations on finding and posting here!! Awesome find!

 

[Made in USA]

Went to the site and the second sentence has two issues. It reads: "They keep accepting reservations for cars...."
They are not taking reservations for a vehicle but for a spot in line. The $1000 all-in's got what they asked for in this regard.
Second, they are not trying to produce a "car" but rather a three wheeled autocycle.
The all-in's are non-refundable. Clearly stated.

A lawyer looking at the Elio Motors financials will see that there is no money to sue for. In the end, who will win and what will they win?

 

[RSchneider]

A few things to consider:
1. This went up in May 2015
2. Since then they have garnered 889 signatures
3. At this rate they will hit 1000 signatures by June 2020
4.

Should the release date be pushed back yet another time, I suggest some sort of government interference to either shutdown or temporarily prevent their ability to collect funds from more unsuspecting buyers

This means, the other announced delays since May 2015, the IPO in February 2016 and reservations taken since May 2015 resulted in zero action from Paul Ash. If he was really wanting to take the bull by the horns, then he would have done something. Just like the majority of the iPetition things you read, they never go anywhere. This is another perfect example.

It's another, "Someone should do something" scenarios. Paul Ash was mad back in 2015 and though he was going to get thousands to sign his petition and then hope that some lawyer was going to take this on pro bono. What Paul Ash found out was that barley anyone was signing his petition and gave up. For it to take 5 years to just get 2% of the reservations holders interested in a class action lawsuit shows the overall lack of interest.

I ask this, when June comes around, will they file a class action lawsuit or will this just fade away?

 

[Ty]

So, three outcomes...
1. The petition continues to fade away.
2. They win the class action lawsuit because Elio did not produce vehicles (they said they may not back when we all went all in, but I digress) but because Elio hasn't produced any vehicles and is in debt, nobody gets any cash because there is none.
3. Elio actually begins producing vehicles and there is ACTUALLY money that could be had in a lawsuit but low and behold, you can't exactly sue them for not making vehicles if they ARE actually making vehicles.

In all three outcomes, there is nothing for the signatories...

 

[Made in USA]

Reading some of the comments in the petition I find it interesting how many are calling it a scam. People don't understand that a business can fail and not be a scam. It can also be poorly run and not be a scam. In order for it to be a scam there must be irrefutable proof that the intent was to defraud the consumer. I have not heard of any evidence that would suggest that Elio Motors has been perpetrating a fraud. Sure, the vehicle has not been made, but that in itself does not show fraud. After they got the first 64,000 reservations they did not aggressively try to get as many reservations as they could get. They stopped showing the prototypes and did not offer any more incentives. If they had gone after 100-200 thousand reservations, gave bigger discounts etc. then they might have gotten the legal system looking at them more closely. What they did do was reduce the discount and raise the price. They never allowed someone to invest more than $1000 on any one vehicle. If it were truly a scam, I would think they would have been promoting the hell out of it.

 

[84mpg]

It doesn’t matter. It’s a negative post and serves its purpose quite well. Anything negative is good for some around here.

 

[TexasTesla]

Yes...this class action lawsuit is just an exercise in futility...basically just gives reservation holders an opportunity to publicly register their dissatisfaction with Elio Motors...

But... It demonstrates the public relations nightmare resulting from Paul Elio’s lack of transparency...

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[TexasTesla]

The simple truth is...CEOs of public companies do not go into hiding and quit communicating with their shareholders..

I’m also curious why the Board of Directors has not replaced Paul Elio...and taken control of the company...

The whole Elio Motor story will eventually unfold...and more than likely it will not be pretty...

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[84mpg]

There you go..... what this thread is all about. “financial misdeeds” “skeletons in the closet”....

you sure you don’t work for Tesla?