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Elon Musk begins trial over Tesla tweet that cost him $20m

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Shareholders are suing the Tesla CEO over a 2018 tweet saying he had the funds to take the firm private.

If a jury rules in Tesla's shareholders favour, Mr Musk may be ordered to pay billions of dollars in damagesA trial into a tweet by Elon Musk alleging that he would take Tesla private in a $72bn buyout is set to begin on Tuesday.

Shareholders argued that they lost billions of dollars due to the tweet after the share price plummeted.

 

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He failed in getting the trial transferred to Texas. 😬

thunderf00t - Busy day today!

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Elon Musk and Tesla going on trial over claims his tweets cost investors billions of dollarsElon Musk, who has since bought Twitter, caused a stir on the social media platform in 2018 when he claimed he had secured funding to take Tesla private. May he go broke and lose it all. Buying a company, then using it to lose your other companies money is quite a move. This man clearly knows what he is doing. 🤣wow
Source: SkyNews - 🏆 35. / 67 Read more »