Technology,
Civil Litigation
Apr. 19, 2022
Shareholders want Musk muzzled on criticizing SEC
In a brief supporting the motion, Levi & Korsinsky LLP partner Adam M. Apton wrote that U.S. District Judge Edward M. Chen — in an order that hasn’t been publicly released — agreed with the plaintiffs.
A federal judge in San Francisco ruled that Elon Musk’s 2018 statements on Twitter that he would take Tesla Inc. private were “false and misleading,” a pretrial ruling that — if not successfully appealed — would be a victory for shareholders suing the electric carmaker.
The shareholder suit involves two Aug. 7, 2018 tweets by Musk, Tesla’s CEO, in which he wrote: “Am considering taking Tesla private at $420. Funding secured,” and, “Investor...
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