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.
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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.
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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.
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NBC reports that Musk believes he can convince the jury that he was unaware that the tweet was false when he sent it.
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NBC reports that Musk believes he can convince the jury that he was unaware that the tweet was false when he sent it.
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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.
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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.
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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.
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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.
