A US court has ruled that Elon Musk’s 2018 tweets saying funding had been secured to take Tesla private were inaccurate and reckless, delivering a major victory to investors who alleged the billionaire artificially inflated stock prices.US District Judge Edward Chen of San Francisco found that “there was nothing concrete” about financing from Saudi Arabia’s sovereign wealth fund at that time.Musk in 2018 met with representatives of Saudi Arabia’s Public Investment Fund and discussed taking Tesla private, but evidence shows that “there was nothing concrete about funding coming from the PIF,” the judge wrote.
Load More
Load More