Jury says Musk is not liable for 2018 tweet
Published: Feb. 4, 2023 at 3:41 PM MST
GRAND JUNCTION, Colo. (KJCT) - The jury’s unanimous verdict was issued Friday in US District Court in California.
Shareholders sued musk over a tweet he sent out where he said he was thinking about taking his company, Tesla, private and had “funding secured.”
The shareholders argued significant portions of their investments took a hit following the tweet.
The jury, however, ruled the plaintiffs had failed to prove their claims.
Musk did suffer some consequences due to the tweet.
He settled a civil suit with the securities and exchange commission where he and Tesla each had to pay $20 million in fines.
Musk gave up his title as chairman of the company.
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