Jury: Musk Didn’t Defraud Investors With 2018 Tesla Tweets

February 4, 2023 3:39 am

SAN FRANCISO (AP) – A jury has decided Elon Musk didn’t defraud investors with tweets in 2018. The verdict by the nine jurors was reached after less that two hours of deliberation following a three-week trial. The trial pitted Tesla investors represented in a class-action lawsuit against Musk, who is CEO of both the electric automaker and the Twitter service he bought for for $44 billion a few months ago. In 2018, Musk tweeted that he had the financing to take Tesla private even though it turned out he hadn’t gotten an iron-clad commitment for an aborted deal that would have cost $20 billion to $70 billion to pull off. The verdict is a major vindication for Musk.