Jury rules Elon Musk is not liable for shareholder losses after ‘funding secured’ tweets | JP
Elon Musk is off the hook for his 2018 tweets claiming he had “funding secured” to take Tesla private for $420 a share. A jury found that Musk was for Tesla investors’ losses, following a weeks-long trial in San Francisco.
The verdict is a major victory for Musk, who could have been liable for billions of dollars in damages. Musk in federal court that just because he tweets something, it “does not mean people believe it or will act accordingly.” He also argued that he could have used his shares of SpaceX to fund the deal.
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