SAN FRANCISCO, Jan 19 ― Tesla Inc CEO Elon Musk “lied” when he said that funding was “secured” to take the company private, a lawyer for Tesla investors said...
SAN FRANCISCO, Jan 19 ― Tesla Inc CEO Elon Musk “lied” when he said that funding was “secured” to take the company private, a lawyer for Tesla investors said yesterday, as an attorney for Musk argued that the billionaire merely used the “wrong words” when he tweeted about his plans in 2018.
“You will come to learn very soon that this was not fraud, not even close,” Alex Spiro said during opening statements. A jury of nine will decide whether the tweets artificially inflated Tesla's share price by playing up the status of funding for the deal, and if so, by how much. Littleton said he began investing in Tesla in 2015 as Musk was “bringing new ideas to life” in the technology industry.Littleton said he scrambled to unwind his Tesla options positions, which the tweet made unprofitable.
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