Elon Musk testifies in 2nd day of Tesla tweet trial
- Date: 24-Jan-2023
- Source: The Economist
- Sector:Financial Services
- Country:Saudi Arabia
Elon Musk testifies in 2nd day of Tesla tweet trial
In this courtroom sketch, Elon Musk, left, with shareholder attorney Nicholas Porritt, appears in federal court in San Francisco, Friday, Jan. 20, 2023. Musk took the witness stand to defend a 2018 tweet claiming he had lined up the financing to take Tesla private in a deal that never came close to happening. The tweet resulted in a $40 million settlement with securities regulators. It also led to a class-action lawsuit alleging he misled investors, pulling him into court Friday. (Vicki Behringer via AP)
SAN FRANCISCO (AP) — Elon Musk returned to federal court 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.
The billionaire Tesla CEO and Twitter owner is facing a class action lawsuit filed by Tesla investors alleging he misled them with a tweet saying funding was secured to take his electric car company private — for $420 per share.
Select Sector 
Select Country 
