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The fraud trial against tycoon Elon Musk began on Tuesday in San Francisco. United States of Americawith a selection of jury members who must decide whether number one is from Tesla D Twitter wrote a scam message in 2018 condemned by investors.
The case dates back to August 2018 when Musk He tweeted that he wants to get rid of the electric car maker. Tesla from the stock market and that he has the funding to do so.
I am considering converting Tesla in a private company at $420 per share. Funding secured,” Musk tweeted.
His comment caused the automaker’s stock to fluctuate wildly for several days.
“Claimants allege that these tweets were false and artificially influenced the price Tesla and other actions,” judge Edward Chen summed up, addressing the candidates for the jury.
Elon Musk wanted the court moved to Texas
On Friday, the justice of the peace refused to refer the case to Texassouthern state where he lives Musk since he moved to Tesla California.
His defense argues that there will be no fair trial of the billionaire. San Franciscowhere did you buy Twitter at the end of October and was heavily criticized for his decisions on the social network.
The trial will finally take place in this city and last three weeks. Musk He is among the witnesses.
In a previous decision in this case, the judge considered that tweet 2018 can be considered “false and misleading”.
The Securities and Exchange Commission (SEC) also sued then and calculated that Elon Musk she did not provide evidence of the existence of such funding.
The controlling organization forced him to leave the post of chairman of the board of directors Tesla, and pay a $20 million fine. In addition, your tweets associated with this company must be approved by a competent lawyer.
Musk tried to reverse this decision, but without success.
According to AFP
Source: RPP
I’m a passionate and motivated journalist with a focus on world news. My experience spans across various media outlets, including Buna Times where I serve as an author. Over the years, I have become well-versed in researching and reporting on global topics, ranging from international politics to current events.