“Thank goodness, the wisdom of the people has prevailed!”
Elon Musk, Twitter’s new CEO was found not guilty by jurors and not liable for investors’ losses in a fraud trial over his 2018 tweets claiming that he had funding in place to take Tesla private.
tweeted Musk, who had tried but failed to get the trial moved to Texas on the grounds that jurors in California would be biased against him. Porritt pointed to expert testimony estimating that Musk’s claim about funding, which turned out not to be true, cost investors billions of dollars overall and that Musk and the Tesla board should be made to pay damages.
“To Elon Musk, if he believes it or even just thinks about it then it’s true no matter how objectively false or exaggerated it may be,” Porritt told jurors. Musk did not intend to deceive anyone with the tweets and had the connections and wealth to take Tesla private, Spiro claimed.
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