Law Daily Report

Elon Musk's Tesla tweets are debated as trial nears end

  • 📰 Reuters
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 97%

Law Law Headlines News

Law Law Latest News,Law Law Headlines

A trial over whether Elon Musk should be liable for tweeting in 2018 about financing for a buyout of Tesla Inc neared its end on Friday, with a lawyer for unhappy shareholders saying the billionaire was not above the law and Musk's lawyer saying his client was not a 'tweeting monster.'

Musk's lawyer Alex Spiro countered that funding was "not an issue" for a Tesla buyout, saying his client was not the "rich liar" and "fire breathing, tweeting monster" that he said the shareholder lawyers tried to portray.

A jury of nine will decide whether Musk's tweets artificially inflated Tesla's share price by playing up the status of funding for the deal, and if so, by how much. Spiro rejected shareholders' claim that some of that decline stemmed from an Aug. 17, 2018, New York Times story questioning the funding.

Musk testified that he had lined up financing, including a verbal commitment from Saudi Arabia's sovereign wealth fund, and could have used his stake in SpaceX - a rocket company of which he is also CEO - to fund a deal, but admitted he lacked specific commitments from potential backers.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Lol, what a joke. His tweets. This time line deserves to end in a sarcastically hilarious manner.

don't care

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in LAW

Law Law Latest News, Law Law Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Elon Musk Tesla tweet trial delves into investor damages up to $11 billion - AutoblogAn Elon Musk tweet caused billions of dollars in investor damages after the deal collapsed, according to estimates presented at trial. $11B... lol. That's joke money compared to the damage he's done in the last 11 months.
Source: therealautoblog - 🏆 528. / 51 Read more »

Elon Musk's Tesla tweet trial drawing to a closeClosing arguments are taking place Friday in the Elon Musk tweet trial. He arrived at court Friday morning wearing a black suit.
Source: wrtv - 🏆 598. / 51 Read more »

Elon Musk Trial Over Tesla Tweets Heads to Closing StatementsJurors in the federal trial over the CEO’s 2018 tweets proposing to take Tesla private are poised to hear closing statements before deliberating on a verdict. Lock him up. Should be given a nighthood for exposing so much
Source: WSJ - 🏆 98. / 63 Read more »

Musk did not need Tesla board to review buyout tweets, directors testifyTesla Inc's board had no obligation to review CEO Elon Musk's 2018 tweets announcing a bid to take the electric car maker private, which investors allege were fraudulent, two independent directors testified at trial on Wednesday.
Source: Reuters - 🏆 2. / 97 Read more »