The matter concerns two tweets made by Musk on August 7, 2018. Musk had said in both tweets that he had raised enough funds to buy Tesla. However, the deal never materialized.
A US jury has ruled that Elon Musk did not mislead investors by tweeting about a proposed deal with electric car maker Tesla in 2018. The matter concerns two tweets made by Musk on August 7, 2018. Musk had said in both tweets that he had raised enough funds to buy Tesla. However, the deal never materialized.
Subsequently, Tesla shareholders sued Musk, saying his tweet had caused them great harm. After deliberating for nearly two hours at the end of a three-week trial, the nine-member jury returned its verdict. It was a huge victory for Musk, who was present for nearly eight hours during the court proceedings and defended his August 2018 tweet.
Although Musk (51) was not present at the time of the verdict, he suddenly arrived during closing arguments on Friday, presenting a different image of him. Shortly after the verdict was announced, Musk expressed his happiness by tweeting. He wrote: “Thank God. Justice has finally prevailed.”
Musk’s attorney, Alex Spiro, told the jury that the 2018 tweet was “technically incorrect,” but that doesn’t mean he let anyone down. $72 billion has been “raised” to buy Tesla. At the time, Tesla was struggling with production issues. Following this, he tweeted another that a deal to this effect will soon be made, while no such deal has occurred.
Disclaimer:Prabhasakshi has not edited this news. This news has been published from PTI-language feed.