Feb. 3, 2023:
A jury found Elon Musk not liable for costing investors millions of dollars when he issued a series of tweets saying he had "secured" funding to take the electric car maker private.
The Friday verdict, issued by a nine-person Northern California jury, represents a legal victory for the 51-year-old billionaire.
Even before the trial, California District Court Judge Edward Chen had ruled that the tweets were false and reckless. Separately, Musk and Tesla had reached a $40 million settlement with the Securities and Exchange Commission just one month after the tweets were posted.
A jury found Elon Musk not liable for costing investors millions of dollars when he issued a series of tweets saying he had "secured" funding to take the electric car maker private.
The Friday verdict, issued by a nine-person Northern California jury, represents a legal victory for the 51-year-old billionaire.
Even before the trial, California District Court Judge Edward Chen had ruled that the tweets were false and reckless. Separately, Musk and Tesla had reached a $40 million settlement with the Securities and Exchange Commission just one month after the tweets were posted.
