Controversial tweet from Elon Musk regarding Tesla ruled ‘false’ by judge
A judge ruled that the tweet, dating from 2018, in which Elon Musk claimed to have sufficient funding to take Tesla out of the stock market was “false and misleading”.
Elon Musk, during a TED conference, in Canada, April 14, 2022.
AFP
The tweet in which Elon Musk claimed in 2018 to have sufficient funding to take Tesla out of the stock market was considered “false and misleading” by a judge, according to a document filed by investors who filed a complaint once morest the group.
These investors filed a lawsuit once morest the electric car maker and Elon Musk, accusing them of losing money following the publication of this tweet which caused the stock to falter for a few days. They claim in the document filed on Friday and consulted on Saturday by AFP that the judge in charge of the case order Elon Musk to stop publicly affirming that he had indeed “secured the financing” to withdraw the group from the Stock Exchange. 420 dollars per share, as he did once more at a conference on Thursday.
Elon Musk has assured in the past that he was at the time in discussions with the sovereign fund of Saudi Arabia and that he was confident of the outcome of these negotiations. But no deal was ever announced.
Decision not made public
According to the document filed by the investors, the judge recently concluded, in an undisclosed partial decision, that “these assertions by Musk were false and misleading and that Musk made these false statements recklessly and with full knowledge of the facts that ‘he distorted in his tweets’.
The plaintiffs believe Elon Musk has embarked on a public campaign “to present a contradictory and false version” of the tweet in question, which might sway jurors in a trial due to take place in May. The American stock market policeman, believing that Elon Musk had not provided proof of his financing, had also filed a complaint at the time.
The regulator then forced him to hand over the chairmanship of Tesla’s board of directors, pay a $20 million fine and later demanded that his tweets directly related to Tesla’s activity be pre-approved by a lawyer. competent. Elon Musk, who is currently looking to buy Twitter, challenged the latest move in court in early March.
Published today at 03:40
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