The case revolved around whether the mogul misled investors when he tweeted in 2018 that he was going to take Tesla private.
are not on the hook for losses investors suffered when he posted messages on Twitter in 2018 indicating that he had secured the funding to take Tesla private, a jury found Friday.
The trial in San Francisco federal court stemmed from a series of tweets Musk posted saying that he had the “funding secured” to take Tesla private at $420 a share. He wrote: “Investor support is confirmed. Only reason why this is not certain is that it’s contingent on a shareholder vote.” After the automaker’s share price spiked after the posts, it plummeted when it became apparent that the deal would not be consummated.
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