Elon Musk won the lawsuit filed by Tesla investors. Investors filed a lawsuit against the billionaire, claiming that they were victims of the fall in Tesla shares after Musk said in a tweet that “Tesla will be privatized, financing was provided”.
Famous billionaire Elon Musk, the owner of Twitter, Tesla and SpaceX, is one of the most sued people in recent years. One of Musk’s ongoing lawsuits since 2018 has concluded as of the past day.
Tesla CEO Elon Musk tweeted in 2018 that funding was ready for the company’s privatization. After this tweet stock prices first rose, then fell after the bid failed. Therefore, investors sued the famous billionaire in January.
Musk won the lawsuit against him
The case was dropped because the juries assigned to the case did not see a direct link between Musk’s Tweet and the drop in Tesla shares. During the civil hearings that lasted for weeks, what Musk meant with his tweet was examined in depth.
In the first tweet referenced at the trial, Musk mentioned that he was considering privatizing Tesla and said, “Funded” he said. In a second tweet “Investor support confirmed” but added that the proposal would depend on the votes of the shareholders. So the jury was between the submissions and the grievances of the investors who sued. did not establish a bond.
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Therefore, the lawsuit filed by investors against Musk in this regard. It resulted in Musk winning. What are you thinking? Please do not forget to share your thoughts with us in the comments.