Tesla CEO Elon Musk took the stand in a California court room Friday to testify in the lawsuit over his controversial 'funding secured' tweet in 2018. Musk has said at the time that he was thinking about taking Tesla private at $420 a share.
Tesla CEO Elon Musk took the stand in a California court room Friday to testify in the lawsuit over his controversial "funding secured" tweet in 2018.
Tesla, Musk and company directors are facing a shareholder lawsuit over his infamous 2018 tweet, which said that he was thinking about taking Tesla private at a price of $420 a share. That wasn't problematic. Musk had spoken to executives of the Saudi sovereign wealth fund about the funding he would need to take Tesla private, the money was anything but "secured."
A year later Tesla's stock went on an extraordinary run, gaining 1520% from the day of the "funding secured" tweet, but some investors say they had already lost out as they had sold Tesla shares to protect themselves.
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