The board chair of Tesla Inc defended CEO Elon Musk in a securities fraud trial on Friday, telling jurors that she would have quit as a director if she had thought Musk lied by tweeting in 2018 that he had 'funding secured' to take Tesla private.
defended CEO Elon Musk in a securities fraud trial on Friday, telling jurors that she would have quit as a director if she had thought Musk lied by tweeting in 2018 that he had "funding secured" to take Tesla private.
She took the stand for around 30 minutes on Friday, saying that she would have quit if she had thought the tweets contained false information. Denholm took over as board chair after Musk agreed to relinquish the role in 2018 as part of a settlement with the U.S. Securities and Exchange Commission, which alleged the tweets were fraudulent.
Musk told the jury earlier this week he could have financed the potential deal from existing Tesla investors as well as a Saudi wealth fund.Musk, however, acknowledged he did not have binding agreements with investors for specified amounts, leaving it to the jury to decide if he misled shareholders.
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