Elon Musk testified that he 'had no ill motive' in tweeting about a Tesla deal that never happened. His comments came on his third day on the stand in the trial of a class action lawsuit filed by Tesla investors who say he misled them.
When presented with texts and email indicating that a representative for the Saudi fund had never pledged the money for a full buyout of Tesla, Musk contended it was nothing more than the words of someone trying to backpedal from a previous pledge made in private conversations.
“I don’t believe they actually represent shareholders,” Musk sneered, drawing a rebuke from U.S. District Judge Edward Chen, who ordered the remark stricken from the record. He pointed Tuesday to his nearly 30-year track record as an entrepreneur who has never had trouble raising money from a litany of past ventures that have included PayPal and Neuralink, in addition to Tesla and SpaceX.
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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 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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