Elon Musk has returned to the stand 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.
The 51-year-old billionaire resumed his staunch defense centering on two 2018 tweets indicating testified the day before that he lined up the money to take Tesla private under the friendly questioning of his own lawyer, Alex Spiro.by an attorney representing Tesla shareholders, Musk at times was combative, indignant and exasperated.
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 colorfully contended it was nothing more than the words of someone trying to backpedal from a previous pledge made in private conversations. He also testified that he could have easily sold some of his holdings in SpaceX, a rocket ship maker that Musk also owns, to pay for a Tesla buyout — a tactic that he hadn't publicly floated at the time he proposed the deal.
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 aThe trial hinges on whether a pair of tweets that Musk posted on Aug.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Elon Musk says he ‘never’ wanted to deceive Tesla shareholders, takes swipe at short sellersTesla Inc. Chief Executive Elon Musk is now under cross-examination from his attorney Alex Spiro, saying late Monday that he had “never” tried to deceive...
Leer más »
Tesla’s Problems Go Way Beyond Elon MuskThe EV giant is alienating its customers, bringing in less revenue, and falling behind legacy carmakers.
Leer más »
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.
Leer más »
Was Pro Power Saver Endorsed by Elon Musk and Tesla?Not only did Elon Musk and Tesla have nothing to do with this product, the claim that the device could potentially save homeowners up to 90% off their electricity bill reminds us of a wise saying: If something seems too good to be true, it probably is.
Leer más »
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.
Leer más »
Elon Musk: Google’s Alphabet had ‘standing interest’ in buying TeslaGoogle’s parent Alphabet Inc. had a “standing interest” in buying Tesla Inc. Chief Executive Elon Musk said in court Monday, referring to an earlier...
Leer más »