Elon Musk has returned to federal court in San Francisco to testify in a class action lawsuit filed by Tesla investors alleging he misled them with a tweet
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.
Speaking in a soft halting tone, Musk said Monday he “had trouble sleeping last night and unfortunately I am not at my best.” He added that it was important for jurors to know that he “felt that funding was secured” due to his ownership of “SpaceX stock alone." At a July 31, 2018 meeting, the Saudi Public Investment Fund’s Yasir Al-Rumayyan “confirmed unequivocally that they would support Tesla going private. That was part of what ‘funding secure’ meant,” Musk said Monday. “But in addition there was SpaceX stock, which could also be used.”
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