Elon Musk returned to federal court to testify in a class action lawsuit filed by Tesla investors alleging he misled them with a tweet. In the tweet, Musk claimed he lined up the financing to take Tesla private in a deal that never came close to happening.
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 trial hinges on the question of whether a pair of tweets that Musk posted on Aug. 7, 2018, damaged Tesla shareholders during a 10-day period leading up to Musk's admission that the buyout he had envisioned wasn’t going to happen. “Just as I sold stock in Tesla to buy Twitter. ... I didn't want to sell Tesla stock but I did sell Tesla stock,” he said of the stock sale to make up for the lack of funding from other sources for his $44 billion deal to take Twitter private. Musk sold nearly $23 billion worth of his car company’s shares between last April when he started building a position in Twitter, and December.Even before Musk took the stand on Friday, U.S.
Nicholas Porritt, a lawyer representing Tesla shareholders, asked Musk if he “went with 420 because it was a joke your girlfriend enjoys.” Musk replied he thinks there is “some karma” around the number 420 — which is also a slang reference to marijuana — although he added he doesn't know “if it's good karma or bad karma at this point.”
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
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 »
Elon Musk takes witness stand to defend Tesla buyout tweetsElon Musk has taken the witness stand to defend a 2018 tweet claiming he had the financing to take Tesla private, which led to a $40 million settlement and a class-action lawsuit alleging he misled investors.
Leer más »
Tesla raffle struggles to sell tickets due to Elon Musk's actionsThe organizer of an annual charity raffle to win a Tesla says he's struggling to sell tickets this year because of Elon Musk's antics
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 »
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 increased security for Errol Musk amid kidnapping fears: reportInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Leer más »