Elon Musk took the stand in a California court room on Friday to testify in a lawsuit over his 2018 tweet claiming he had secured funding to take Tesla private. Shareholders allege that the tweet was misleading and caused them to suffer financial losses, while Musk's lawyers argue that it was a joke. The trial is expected to last several weeks and could have serious implications for Musk and Tesla.
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Elon Musk to Face Trial Over Tweet Claiming He Had Secured Financing for $72 Billion Buyout of Tesla
Elon Musk to Face Trial Over Tweet Claiming He Had Secured Financing for $72 Billion Buyout of Tesla
Elon Musk, the billionaire CEO of Tesla, is set to face a trial over a tweet he made in 2018 claiming he had secured financing for a $72 billion buyout of the company. The lawsuit alleges that the tweet was an attempt to manipulate the stock market and artificially inflate Tesla's stock price. Musk has denied the allegations, claiming that the tweet was an accurate reflection of his plans at the time, and the trial is expected to last several weeks with the outcome having a significant impact on Musk's reputation and the future of Tesla.
Tesla Inc. has reduced the prices of several of its electric vehicles, making them eligible for a new federal tax credit that could help spur buyer interest. Despite the move, investors were not pleased and Tesla shares dropped nearly 4%. The company is hoping the tax credit and price cuts will encourage more people to buy its vehicles.
The driver, Dharmesh A. Patel of Pasadena, has been arrested on suspicion of attempted murder and child abuse. The California Highway Patrol (CHP) announced Tuesday…
Two adults and two children miraculously escaped serious injury after their Tesla plunged off a cliff along California’s Pacific Coast Highway and crashed on a…
On Monday morning, a dramatic rescue unfolded on the Pacific Coast Highway in San Mateo County, California. Two adults and two children, ages 4 and…