Elon Musk Testifies , in Trial Over Tweets , About Taking Tesla Private.
On January 23, Tesla CEO Elon Musk took the witness
stand in a trial to determine whether he intentionally
mislead investors with an August 2018 tweet. .
On January 23, Tesla CEO Elon Musk took the witness
stand in a trial to determine whether he intentionally
mislead investors with an August 2018 tweet. .
The lawsuit made by Tesla investors claims that Musk's
tweet stating that he had "secured" funding for taking
Tesla private caused them to lose large sums of money.
The lawsuit made by Tesla investors claims that Musk's
tweet stating that he had "secured" funding for taking
Tesla private caused them to lose large sums of money.
The tweet has already been
ruled as both false and reckless
by U.S. Judge Edward Chen. .
NBC reports that Musk believes he can
convince the jury that he was unaware
that the tweet was false when he sent it. .
NBC reports that Musk believes he can
convince the jury that he was unaware
that the tweet was false when he sent it. .
Musk has also suggested that movements
in Tesla's stock price are not
dictated by his personal tweets.
Just because I tweet something
does not mean people believe it
or will act accordingly, Elon Musk, Tesla CEO, via NBC.
According to Musk's attorney, Alex Spiro, the Tesla
CEO was taking steps to finalize a deal with Saudi
backers back in 2018 when he sent the tweet. .
According to Musk's attorney, Alex Spiro, the Tesla
CEO was taking steps to finalize a deal with Saudi
backers back in 2018 when he sent the tweet. .
Spiro suggests that Musk was trying to protect the
"everyday shareholder" by sending the tweet, which
may have contained some "technical inaccuracies.".
Spiro suggests that Musk was trying to protect the
"everyday shareholder" by sending the tweet, which
may have contained some "technical inaccuracies.".
Nicholas Porritt, a lawyer representing shareholders,
argues that Musk was fully aware the deal with Saudi
Arabia's public investment fund was not final at the time. .
Nicholas Porritt, a lawyer representing shareholders,
argues that Musk was fully aware the deal with Saudi
Arabia's public investment fund was not final at the time.