Last Updated Wednesday, January 18, 2023 2:38PM EST
The prospect of what would have been a $72 billion buyout 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 to pull off the deal after all. Tesla shareholders then sued him, saying that Tesla shares would not have swung so widely in value if he had not dangled the prospect of buying the company for $420 per share.
“Mr. Musk tries to do things that have never been done before. Everyone knows that,” Spiro told the jury. Musk's tweets attracted the attention of securities regulators, who concluded that they were improper and that he was lying. In a settlement, they forced him to pay $40 million and required him to step down as Tesla chairman. U.S. District Judge Edward Chen, who is presiding over the trial, ruled that the shareholders lawyers can't mention that settlement in the case.
elonmusk can you look into the PM files for canada 🇨🇦 Good sir...much appreciated ay
Depicted lol
I'll help you Elon
CP 24 calling someone a liar?
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