Elon Musk presenting their new neural network chip in 2019|Steve Jurvetson|CC BY 2.0
Remember when Elon Musk tweeted “funding secured” to take Tesla private back in 2018? Recently, a US District Court Judge ruled the tweets were false—revealed shareholders who sued Musk for his ‘false and misleading’ tweets.
Investors have accused the Tesla CEO of security fraud, though Musk claims he had secured the said funding.
A jury trial starts in May, with shareholders attempting to seek damages over the tweets. Musk would have to pay billions to the investors if the tweets are confirmed to be false, or both the parties could agree to a settlement, avoiding a jury trial altogether.
