A nine-person jury has been seated to hear a trial that will determine whether Tesla CEO Elon Musk cheated investors by asserting in 2018 tweets that he had lined up financing to take the electric automaker private.
FILE - Tesla and SpaceX Chief Executive Officer Elon Musk speaks at the SATELLITE Conference and Exhibition in Washington. A federal judge on Friday, Jan. 13 2023 rejected Tesla CEO Elon Musks bid to move or delay a trial over a misleading tweet about a potential buyout of the electric automaker, setting the stage for the mercurial billionaire to be thrust into a legal drama amid the turmoil of his Twitter takeover.
The five-hour process set the stage for opening statements to begin Wednesday in the case, which is expected to include testimony from Musk to explain his thinking while engaged in one of his favorite activities — tweeting on theIn the Tesla case, Musk’s tweets fueled a rally in the company's stock price that abruptly ended a week later after it became apparent that he did not have the funding for a buyout after all.
Musk's tweet also attracted the attention of securities regulators, who concluded that it was improper and that he was lying., they forced him to pay $40 million and required him to step down as Tesla chairman. He has since contended that he entered the settlement under duress and maintains that he believed he had locked up financial backing for the buyout during meetings with representatives from Saudi Arabia’s Public Investment Fund.
Even while he has been making major changes at Twitter, Musk continues to serve as CEO at Tesla and derives most of his wealth and fame from the company.
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Jury selection to begin for trial over Elon Musk tweets about TeslaBack in 2018, Musk claimed he had lined up the financing to pay for a $72 billion buyout of Tesla. But that never happened.
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Jury selection to begin for trial over Elon Musk tweets about TeslaBack in 2018, Musk claimed he had lined up the financing to pay for a $72 billion buyout of Tesla. But that never happened.
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Jury selection to begin for trial over Elon Musk tweets about TeslaA 2018 Elon Musk tweet made it seem as if he'd lined up the financing to pay for a $72B buyout of Tesla. Now he's facing trial in San Francisco.
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Jury selection to begin for trial over Elon Musk tweets about TeslaBack in 2018, Musk claimed he had lined up the financing to pay for a $72 billion buyout of Tesla. But that never happened.
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Jury selection to begin for trial over Elon Musk tweets about TeslaBack in 2018, Musk claimed he had lined up the financing to pay for a $72 billion buyout of Tesla. But that never happened.
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Jury selected for Elon Musk trial about Tesla buyout tweetsMusk claimed in a August 7, 2018, tweet that he had lined up the financing to pay for a $72 billion buyout of Tesla, which he then amplified with a follow-up statement that made a deal seem imminent.But the buyout never materialized.
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