Musk found not liable over 'funding secured' tweet
STORY: A U.S. jury on Friday (February 3) found Tesla CEO Elon Musk and company were not liable for misleading investors.
That's in relation to Musk tweeting in 2018 that he had "funding secured" to take the electric car company private.
Tesla shareholders had been claiming billions in damages. Here's one of their lawyers, Adam Apton, after the verdict was read out.
“We’re disappointed. We’re examining options, and yeah. Thank you guys.”
The plaintiffs claimed Musk had misled them when he tweeted on August 7, 2018, that he was considering taking the company private at $420 per share.
That was a premium of about 23% above the previous day's close.
He also said he had "funding secured".
Later that day Musk, now also Twitter's CEO, had tweeted "investor support is confirmed". Plaintiffs claimed that was a lie.
Tesla's stock price soared after the tweets, and then fell again after August 17, as it became clear the buyout would not happen.
An economist hired by shareholders had calculated investor losses as high as $12 billion.
Lawyers for the investors argued that Musk was not above the law and should be held liable for the tweets.
But Musk's lawyer had countered that though the "funding secured" tweet was "technically inaccurate" investors only cared that Musk was considering a buyout.
"Just because it's a bad tweet doesn't make it fraud," he said during closing arguments.
The jury came back with an unanimous verdict in Musk's favour roughly two hours after beginning deliberations.
Shareholders of Tesla rose 1.6% in after hours trading following the verdict.
Musk was not present in court but tweeted that he was "deeply appreciative" and that the "wisdom of the people had prevailed".
相關影片推薦
- 1:18美馬戲團大象逃脫 穿梭車陣民眾驚呼 馬路秒變野生動物園Yahoo奇摩(國際通)29,752 次觀看・1 天前
- 6:11強震來臨這3個縣市最危險 李鴻源曝災防都更因「票房毒藥」難行今天誰來沛207,223 次觀看・20 小時前
- 1:53加拿大史上最大黃金盜竊案逮6人 加航「內鬼」偽造空運單 400公斤黃金恐已熔化售出Yahoo奇摩(國際通)34,853 次觀看・19 小時前
- 1:13柯建銘質詢一半突喊「我看不到」計時器 透露眼睛病變華視影音7,917 次觀看・21 小時前
- 1:1126歲抗癌網紅因胃癌去世 生命最後5個月沒吃沒喝娛樂星聞57,558 次觀看・2 天前
- 1:15謝和弦不認偷吃陳芳語嗆前妻記錯人!自爆出軌對象是「她」秒遭Keanna打臉娛樂星聞4,424 次觀看・12 小時前
- 2:02英國女遊台南「喝全糖珍奶」 嚇壞驚呼:天大錯誤華視影音303,777 次觀看・1 天前
- 23:55台積電法說會登場 投資人關心加碼美國新廠風險 但面對拜登和川普搶當美國保護主義隊長 川普幕僚密謀促貶美元 拜登祭301調查要提高中國商品關稅 台積電等於買了保險|鏡轉全球 #鏡鏡新聞762 次觀看・14 小時前
- 1:39男童"騎單車"上快車道 暖心民眾放慢車速"殿後"護送民視影音52,226 次觀看・18 小時前
- 2:22世界最小核潛艇 法國老牌「紅寶石級」罕見公開 直擊內部作業、核動力能巡洋數月Yahoo奇摩(國際通)12,196 次觀看・1 天前