Home / International / News / Musk recklessly tweeted that got funding for taking Tesla private: US judge

Musk recklessly tweeted that got funding for taking Tesla private: US judge

Pre-trial decision represented a major victory for investors in a lawsuit accusing the world's richest person of inflating stock prices.

Premium

If he should become Twitter’s owner, Musk said he would scrap the current program of content monitoring and censoring

Reuters San Francisco

2 min read Last Updated : Jan 30 2023 | 3:01 PM IST

Listen to This Article

A U.S. judge has determined that Elon Musk's 2018 tweets that funding had been secured to take electric car maker Tesla private was inaccurate and reckless, saying "there was nothing concrete" about financing from Saudi Arabia's sovereign wealth fund at that time.

San Francisco-based U.S. District Judge Edward Chen's pre-trial decision represented a major victory for investors in a lawsuit accusing the world's richest person of inflating stock prices by making false and misleading statements, causing billions of dollars in damages.

Chen granted the shareholders summary judgment on the issue of whether Musk knowingly made false statements but declined

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in