Tesla investors lose bid for new US trial over Musk's 2018 tweets

Quick Summary:

A U.S.appeals court on Wednesday upheld a jury's verdict clearing Tesla CEO Elon Musk and his company of liability over allegations they misled investors when the billionaire posted on social media in 2018 that he had "funding secured" to take the electric car company private.

Tesla's stock price soared after the tweets and then fell again after Aug.17, 2018, as it became clear the buyout would not happen.

Ellyde Thompson, a lawyer for Musk and Tesla, welcomed the decision.

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Category: EconomyBusiness

Markets: Singapore

Topics: Known Case Musk Knowingly 2018 Shareholders Tesla Acted Lawyers Elon Investors

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-07 @ 03:26:22 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 469 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 28 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 23451765

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Main Topics: EconomyBusiness

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