Musk says he was heeding Ark boss Cathie Wood's wishes when he scrapped the plan to take Tesla private
Elon Musk told a court he scrapped his plans to take Tesla private after getting a letter from Ark Invest's Cathie Wood and hearing that investors wouldn't like the move.
The billionaire Tesla CEO said Tuesday he was seriously considering a buyout deal for the electric-vehicle maker for about two weeks, the"I felt it was important to be responsive to their wishes," Musk said on his third day of testimony in the ongoing jury trial, sparked by a class-action shareholder lawsuit.MarketWatch reported.
The Ark Invest CEO was among the most influential people that would prefer Tesla to stay publicly listed, he said, because otherwise her funds couldn't participate. The lawsuit on trial in San Francisco alleges Musk committed securities fraud. Some investors have accused Musk of illegally manipulating Tesla's stock price via August 2018 tweets saying there was"funding secured" to take the carmaker private at $420 per share.
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