Opening statements are set to begin in a trial that will determine whether Tesla CEO Elon Musk cheated investors by asserting in 2018 tweets that he had lined up financing to take the electric automaker private. tesla elonmusk kprc2 click2houston
FILE - Tesla and SpaceX Chief Executive Officer Elon Musk speaks at the SATELLITE Conference and Exhibition in Washington. A federal judge on Friday, Jan. 13 2023 rejected Tesla CEO Elon Musks bid to move or delay a trial over a misleading tweet about a potential buyout of the electric automaker, setting the stage for the mercurial billionaire to be thrust into a legal drama amid the turmoil of his Twitter takeover.
Nicholas Porritt, a lawyer representing Glen Littleton and other Tesla shareholders in the class-action case, promptly vilified Musk as he addressed jurors. “Mr. Musk tries to do things that have never been done before. Everyone knows that," Spiro told the jury. He said he sold most of his holdings to cut his losses but still saw the value of his Tesla portfolio plunge by 75%.Littleton's frustration escalated in October 2018, when he lashed out at Tesla for late deliveries on vehicles for some of his nieces and nephews. That led him to become a lead investor in the lawsuit.
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