Sources
Loading...
Additional media
Loading...
DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
The 9th Circuit Court of Appeals has upheld a jury verdict that cleared Elon Musk of liability regarding his 2018 tweets about taking Tesla private. This decision, rendered on November 6, 2024, concluded a lengthy legal battle that began six years ago, with investors alleging that Musk misled them by stating he had 'funding secured' to take Tesla private at $420 per share. The court found that the plaintiffs did not demonstrate that Musk intentionally misled investors. This ruling follows a previous jury decision in 2023, which the investors challenged, claiming that the jury instructions were flawed. The appeals court's ruling effectively ends the investors' pursuit of a new trial.
Lawyers for the Tesla investors argued that the judge who presided over the previous case in 2023, U.S. District Judge Edward Chen, gave flawed instructions to the jury members that required them to establish that Mr. Musk made false statements. https://t.co/elRlxwHg4G
The 9th U.S. Circuit of Appeals in San Francisco rejected calls for a new trial from Tesla investors this week, ruling that the plaintiffs didn't prove that Mr. Musk intentionally misled investors. https://t.co/elRlxwHg4G
Note: this "good omen" references a challenge to Tesla's move to Texas. That challenge is a weak case and $TSLA will almost certainly win. It does NOT reference the challenge to the reinstatement of Musk's pay package, which is a STRONG case and Musk will likely LOSE. https://t.co/jaJPydd4jz
