Elon Musk didn't lie but just used the 'wrong words' in his Tesla funding tweet, his lawyer says
Elon Musk didn't lie but used the 'wrong words' in his Tesla funding tweet, his lawyer argued in court. The trial against the Tesla CEO kicked off Wednesday over his tweet back in 2018 that he had"funding secured" to take the electric-vehicle maker private at $420 a share. The deal however never materialized and cost shareholders in the company millions of dollars.
with his notorious tweet. That's because the automaker's shares surged 11% in price in a matter of hours after Musk's disclosure, before plunging as the deal got questioned. Musk however didn't commit fraud, his lawyer Alex Spiro argued in opening statements at the trial."You will come to learn very soon that this was not fraud, not even close," Spiro said,"In a rush, he used the wrong words," Spiro continued, adding that"he hadn't planned to tweet this."
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