Opening statements begin in Tesla shareholder Elon Musk tweets trial
Jurors describe him as 'arrogant,' 'narcissistic,' 'a little off his rocker,' 'a genius'investors' class-action lawsuit are loaded onto a cart outside of the federal courthouse in San Francisco. cheated investors by asserting in 2018 tweets that he had lined up financing to take the electric automaker private.
A nine-person jury was seated Tuesday for the case that is expected to include testimony from Musk to explain his thinking while engaged in one of his favorite activities — tweeting on theMusk’s tweets fueled a rally in the company's stock price that abruptly ended a week later after it became apparent that he did not have the funding for a buyout after all.
Musk's tweet also attracted the attention of securities regulators, who concluded that it was improper and that he was lying., they forced him to pay $40 million and required him to step down as Tesla chairman. He has since contended that he entered the settlement under duress and maintains that he believed he had locked up financial backing for the buyout during meetings with representatives from Saudi Arabia’s Public Investment Fund.
Even while he has been making major changes at Twitter, Musk continues to serve as CEO at Tesla and derives most of his wealth and fame from the company.
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