Securities
Feb. 6, 2023
Jury quickly clears Musk and Tesla of securities fraud
In the 2018 tweet, Musk said he had secured funding to take the automaker private.
After two hours of deliberations Friday, a nine-person jury found a class of investors failed to prove Elon Musk or Tesla Inc. were liable for securities fraud when the Tesla chief executive officer told the public via Twitter that he had secured funding to take the automaker private at $420 a share.
Musk’s and Tesla’s communications before and after the Aug. 7, 2018 tweet were important pieces of the case, as Musk testified he published ...
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