Jury Clears Musk Of Wrongdoing Related To 2018 Tesla Tweets
February 3, 2023 3:13PM PST
FILE – Tesla and SpaceX CEO Elon Musk arrives on the red carpet for the Axel Springer media award in Berlin on Dec. 1, 2020. Musk says he plays on remaining as Twitter’s CEO until he can find someone willing to replace him in the job. Musk’s announcement came after millions of Twitter users asked him to step down in an unscientific poll the billionaire himself created and promised to abide by. (Hannibal Hanschke/Pool Photo via AP, File)
SAN FRANCISO (AP) — A jury has decided Elon Musk didn’t deceive investors with tweets in 2018.
The verdict by the nine jurors was reached after less that two hours of deliberation following a three-week trial.
The trial pitted Tesla investors represented in a class-action lawsuit against Musk, who is CEO of both the electric automaker and the Twitter service he bought for for $44 billion a few months ago.
In 2018, Musk tweeted that he had the financing to take Tesla private even though it turned out he hadn’t gotten an iron-clad commitment for an aborted deal that would have cost $20 billion to $70 billion to pull off.
The verdict is a major vindication for Musk.
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