That disregard is now coming back to haunt him. The case for the plaintiffs is quite simple: after Musk tweeted to the world that he had “funding secured” to buy all the outstanding shares at US$420 a pop, TSLA prices skyrocketed — only to fall dramatically 10 days later when aThis advertisement has not loaded yet, but your article continues below.
Of the first plaint, there would seem to be little argument. Tesla stock, as noted, immediately skyrocketed in reaction to Musk’s positive tweet, and then quick-reversed itself on the news that it wasn’t true. That would leave only the condition of Musk acting knowingly to determine any cash penalty.
is now reporting that he is not going to testify on Musk’s behalf. That leaves Tesla’s self-professed “Technoking” with the claim that he had a “handshake” deal and some post-August-2018 text messages — “You said you were definitely interested in taking Tesla private and had wanted to do so since 2016” — decrying that the Saudis had thrown him “under the bus.”
Perhaps more important than whether there was an actual deal in place — or, in fact, any kind of formal agreement for the monies promised in the tweet — is Mr. Musk’s reputation for suchand the thin skin he displays when challenged on them. Reuters recently posited that trial experts think that the “CEO’s tweets [and] thin skin [might be used] against him,” going on to detail a laundry list of confrontational tactics by Mr. Musk in court.
Tesla cars sit inside the service garage at a Tesla dealership in the Red Hook neighborhood in Brooklyn, August 7, 2018 in New York CityThe problem for Mr. Musk is that said reputation may affect even more impactful proceedings and investigations, namely the seemingly endless criticism of Tesla’s supposed
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