Elon Musk has returned to the stand for a third day in federal court in San Francisco to testify in a class action lawsuit filed by Tesla investors alleging he misled them with a tweet
In this courtroom sketch, Elon Musk appears in federal court in San Francisco, Friday, Jan. 20, 2023. Musk took the witness stand to defend a 2018 tweet claiming he had lined up the financing to take Tesla private in a deal that never came close to happening. The tweet resulted in a $40 million settlement with securities regulators. It also led to a class-action lawsuit alleging he misled investors, pulling him into court Friday.
As Spiro gently prodded him, Musk told the nine-person jury he had stated only that he was “considering" a Tesla buyout but never promised a deal would get done. But, Musk said, he thought it important to get the word out to investors that Tesla might be poised to end its eight-year run as a publicly held company.While beingby an attorney representing Tesla shareholders, Musk at times was combative, indignant and exasperated.
Surfacing while Musk was on the stand Tuesday was his contempt for the attorneys who sued on behalf of Tesla shareholders who owned stock in the company for a 10-day period in August 2018. In the class action lawsuit, Tesla investors allege Musk, who has since taken Twitter in a $44 billion buyout, misled them with a tweet saying funding was secured to take his electric car company private — for $420 per share. But the deal never came close to happening, and the tweet resulted in aMusk has previously contended he entered into the settlement under duress and maintained he never wavered in his belief that he had the money for a deal.
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Elon Musk testifies in second day of Tesla tweet trialElon Musk returned to federal court Monday in San Francisco to testify in a class action lawsuit filed by Tesla investors alleging he misled them with a tweet.
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Elon Musk testifies in 2nd day of Tesla tweet trialElon Musk returned to federal court Monday in San Francisco, testifying that he believed he had locked up financial backing to take Tesla private during 2018 meetings with representatives from Saudi Arabia’s Public Investment Fund — although no specific funding amount or price was discussed. The billionaire Tesla CEO and Twitter owner is facing a class action lawsuit filed by Tesla investors alleging he misled them with a tweet saying funding was secured to take his electric car company private — for $420 per share. The tweet resulted in a $40 million settlement with securities regulators after the deal never came close to happening.
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Elon Musk testifies in 2nd day of Tesla tweet trialElon Musk returned to federal court Monday in San Francisco to testify in a class action lawsuit filed by Tesla investors alleging he misled them with a tweet.
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Elon Musk admits Tesla investors would rely on 'funding secured' tweetElon Musk admitted in court on Monday that he wanted Tesla shareholders to rely on his infamous 2018 tweet that he had 'funding secured' to take the automaker private, despite his repeated attempts to say that he only believed he could secure the money.
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Elon Musk testifies for 2nd day in Tesla tweet trialElon Musk returned to federal court Monday to testify in a class action lawsuit filed by Tesla investors alleging he misled them with a tweet.
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Elon Musk says $420 price in Tesla buyout tweet was 'not a joke' during testimonyTesla CEO Elon Musk refuted that the $420-per-share price in a 2018 tweet about him potentially taking Tesla private was a joke during Monday testimony.
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