Elon Musk took the witness stand in court Friday to defend a 2018 tweet claiming he had lined up the financing to take Tesla private in a deal that never came close to happening.
SAN FRANCISCO — Elon Musk took the witness stand Friday to defend a 2018 tweet claiming he had lined up the financing to take Tesla private in a deal that never came close to happening.with securities regulators. It also led to a class-action lawsuit alleging he misled investors, pulling him into court Friday.
The mercurial billionaire took the witness stand wearing a dark suit on the third day of a civil trial in San Francisco that his lawyer, where Tesla is now headquartered, on the premise that media coverage of his tumultuous takeover of Twitter had tainted the jury pool. The nine-person jury assembled earlier this week will be responsible for deciding whether a pair of tweets that Musk posted on Aug. 7, 2018 damaged Tesla shareholders during a 10-day period leading up to a Musk admission that the buyout he had envisioned wasn’t going to happen.A month later, Musk stepped down as Tesla’s chairman while remaining CEO as part of the Securities and Exchange Commission settlement without acknowledging any wrongdoing.
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