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Elon Musk’s ‘funding’ tweet ruled false, a new court filing shows

Elon Musk:

A court filing late Friday that shareholders sued Tesla and CEO Elon Musk over alleged securities said they won part of a significant ruling in their class-action lawsuit.

Shareholders considered Tesla about money they lost in 2018 after Musk tweeted that he was considering taking his electric vehicle company private at $420 a share and said it was safe to do so.

Tesla stock trading was initially halted, then stocks were highly volatile for weeks after tweets Musk later said he was in discussions with Saudi Arabia’s sovereign wealth fund. and felt confident that the funding would come at its proposed price.

A deal never scrutinized by the Securities and Exchange Commission and those tweets resulted in Tesla accusing Elon Musk with civilian securities and that those allegations should lead to a revised settlement agreement in 2019.

But Elon Musk is trying to end the settlement that could now amount to damages from a class action lawsuit by shareholders.

As for the billions of dollars to be paid by Elon Musk and Tesla, which are members of the class, shareholders’ attorneys said in a filing out Friday that Judge Edward M. Chen, who is presiding over the case, had concluded that Musk had worked with Santa, in other words.

He intentionally made a false statement about the money being secured when he tweeted this information was revealed in a request that shareholders’ lawyers have asked for a temporary restraining order to prevent him from making further public comment about aspects of the case.

As he did in his widely seen appearance on April 14 at the TED 2022 conference, the request for a temporary restraining order reflects an earlier ruling by Judge Chen that is currently under seal as it refers to evidence that Elon Musk’s team is considered confidential, we hope that the order will be published soon.

Epton of Levy and Kosinski lead attorney for the class of Tesla shareholders told CNBC by email at a TED conference Thursday that Day should call financial regulators in the San Francisco office of bastard Elon Musk. was safe but they conducted an active public investigation.

Yet when Tesla was in a precarious financial position and I was told by the banks that if I didn’t agree to a settlement with SEC that those banks would stop providing working capital and Tesla would go bankrupt immediately so it was your child. It’s like holding a gun to his head.

I was forced to become illegitimately ill. It is unclear why Elon Musk may have felt he had been unable to obtain working capital for Tesla, but he is confident that he could take the company private. could collect the necessary billions.

Also Elon Musk is currently the richest person in the world on paper and is trying to get his social media platform on Twitter. Choice and it should take about a billion dollars privately, Attorney Alex Spiro, a partner at Quinn Emanuel Occart.

And Sullivan said in a statement emailed to CNBC Nothi Ng will ever change the truth about whether Elon Musk wants to take Tesla private. were considering.

Some half a decade later all that was left was random plaintiffs’ lawyers trying to make a buck and others trying to block that truth from coming to light. Free Speech Spyro made the same statement to Bloomberg that first reported on the new development in a shareholders’ class action.

A trial date is currently set for May 31, 2022 in a San Francisco federal court, but that could change Levy and Kosinski Epton told CNBC that we look forward to proving the rest of our case in trial. and to recover damages on behalf of the class.

1 thought on “Elon Musk’s ‘funding’ tweet ruled false, a new court filing shows”

  1. Aw, this was an incredibly good post. Finding the time and actual effort to make a very good article… but what can I say… I put things off a lot and never seem to get anything done.

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