Elon Musk knowingly lied when he tweeted in 2018 that he was considering taking Tesla private, a judge reportedly ruled as part of a lawsuit brought by shareholders who are seeking billions of doll…
, alluded to the case during an appearance on Thursday at a TED conference in Vancouver, Canada, during which he referred to Securities and Exchange Commission regulators as “bastards.”
Musk was sued by Tesla shareholders after the value of the stock plummeted following his now-infamous tweet.“Tesla was in a precarious financial situation. And I was told by the banks that if I did not agree to settle with the SEC that they would, the banks would cease providing working capital and Tesla would go bankrupt immediately.”
His August 2018 tweet sparked a firestorm on social media — and a rap on the knuckles from federal regulators.AFP via Getty ImagesThe SEC charged Musk with fraud for his tweet, , his stepping down as chairman of Tesla and a requirement that his tweets be vetted by company lawyers.
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