Tesla CEO Elon Musk Faces Trial in Shareholder Case Over Tweets in 2018
A trial is set to start over a class-action lawsuit regarding whether Tesla CEO Elon Musk knowingly misled investors by claiming that funding was “secured” to take the company private in 2018.
After closing the deal to purchase Twitter in October 2022, the Tesla CEO now has to face his earlier statements on the same social media platform more than four years ago.
Jury selection began in January for the case brought by Tesla shareholders, who are seeking billions of dollars in damages in losses after Musk wrote a tweet on Aug. 7, 2018, about a proposal that never materialized.
Meanwhile, the electric vehicle company’s share price has fallen 64 percent over the past year, as demand for its cars has slowed….