Elon Musk Tesla tweet trial delves into investor damages up to $11 billion
private in 2018 caused billions of dollars in investor damages after the deal collapsed, according to estimates presented Tuesday at a trial examining the haphazard handling of the buyout proposal.
Depending on the verdict, Musk and the electric automaker that he runs could be facing more financial fallout for his unpredictable behavior on the Twitter platform, which he now owns. Without acknowledging any wrongdoing, Musk and Tesla reachedIn this class-action lawsuit on behalf of Tesla shareholders, the jurors must first determine whether two tweets that Musk abruptly posted on Aug. 7, 2018, steered Tesla investors in the wrong direction.
Another expert, University of Maryland finance professor Steven Heston, reviewed an even denser report analyzing the impact of Musk's tweets on more than 2,000 types of Tesla stock options, drawing largely upon a formula known as the Black-Scholes model widely used by companies to value executive compensation packages.
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