{"id":24647,"date":"2023-02-03T19:03:06","date_gmt":"2023-02-04T00:03:06","guid":{"rendered":"http:\/\/worldjusticenews.com\/news\/?p=24647"},"modified":"2023-02-03T19:03:06","modified_gmt":"2023-02-04T00:03:06","slug":"musk-found-not-guilty-of-fraud-over-tesla-tweet","status":"publish","type":"post","link":"https:\/\/worldjusticenews.com\/news\/2023\/02\/03\/musk-found-not-guilty-of-fraud-over-tesla-tweet\/","title":{"rendered":"Musk found not guilty of fraud over Tesla tweet"},"content":{"rendered":"
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Tesla founder Elon Musk has been cleared of wrongdoing for a tweet in which he said he had “funding secured” to take the electric carmaker private.<\/b><\/p>\n<\/div>\n<\/div>\n

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Mr Musk faced a class-action lawsuit filed on behalf of Tesla shareholders who argued he misled them with the tweet in August 2018.<\/p>\n<\/div>\n<\/div>\n

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The proposed $72bn (\u00a360bn) buyout never materialised.<\/p>\n<\/div>\n<\/div>\n

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If the San Francisco jury had found him liable he could have been ordered to pay billions of dollars in damages.<\/p>\n<\/div>\n<\/div>\n

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It took the nine jurors less than two hours to reach their verdict after a three-week trial.<\/p>\n<\/div>\n<\/div>\n

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The US Securities and Exchange Commission (SEC) sued Mr Musk over his tweet, accusing him of lying to investors. He and Tesla settled for $20m each.<\/p>\n<\/div>\n<\/div>\n

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Mr Musk, who also leads SpaceX and Twitter, had argued that he thought he had a verbal commitment from Saudi Arabia’s sovereign wealth fund for the deal.<\/p>\n<\/div>\n<\/div>\n

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During closing arguments earlier on Friday, he sat in court listening as duelling portraits were drawn of him by the rival legal teams.<\/p>\n<\/div>\n<\/div>\n

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Nicholas Porritt, a lawyer for the Tesla shareholders, said: “Our society is based on rules. We need rules to save us from anarchy. Rules should apply to Elon Musk like everyone else.”<\/p>\n<\/div>\n<\/div>\n

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Mr Musk’s attorney, Alex Spiro, said: “Just because it’s a bad tweet doesn’t make it a fraud.”<\/p>\n

Source: bbc.co.uk<\/a><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Tesla founder Elon Musk has been cleared of wrongdoing for a tweet in which he said he had “funding secured” to take the electric carmaker private. Mr Musk faced a class-action lawsuit filed on behalf […]<\/a><\/div>\n","protected":false},"author":1,"featured_media":24648,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"pmpro_default_level":"","footnotes":""},"categories":[109,2,3],"tags":[9183,5579,305,358,6792,2557,8808],"class_list":{"0":"post-24647","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-headline","8":"category-news","9":"category-usa","10":"tag-class-action-lawsuit","11":"tag-elon-musk","12":"tag-fraud","13":"tag-san-francisco","14":"tag-tesla","15":"tag-twitter","16":"tag-us-securities-and-exchange-commission","17":"pmpro-has-access"},"_links":{"self":[{"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/posts\/24647","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/comments?post=24647"}],"version-history":[{"count":2,"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/posts\/24647\/revisions"}],"predecessor-version":[{"id":24650,"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/posts\/24647\/revisions\/24650"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/media\/24648"}],"wp:attachment":[{"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/media?parent=24647"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/categories?post=24647"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/tags?post=24647"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}