US Judge Deemed Elon Musk's Tweets On Tesla "Misleading," Claim Investors
NDTV
Tesla shareholders have accused Tesla of securities fraud over their stock market losses in the wake of Elon Musk's August 7, 2018 tweet, which caused the share price to fluctuate wildly for several days.
A 2018 tweet posted by Elon Musk in which he claimed to have secured the funding to take Tesla private was deemed "false and misleading" by a judge, according to documents filed by investors suing his electric car company.
The shareholders have accused Tesla of securities fraud over their stock market losses in the wake of the August 7, 2018 tweet, which caused the share price to fluctuate wildly for several days.
In a court filing late Friday, plaintiffs asked the federal judge in charge of the case, Edward Chen, to order Musk to stop saying publicly that he "secured" funding to take Tesla private at $420 a share, as he again stated on Thursday.
In the past, the billionaire entrepreneur has said he was in talks at the time with Saudi Arabia's sovereign wealth fund and that he was confident he would reach a deal. But no agreement was ever announced.
