(C) BoingBoing
Author Name: BoingBoing
This story was originally published on Boingboing.net. [1]
License: CC-BY-NC-SA 3.0.[2]


Court filing suggests Elon Musk knew he was misleading people with his tweets claiming to take Tesla private

2022-04-17 00:00:00

A filing on behalf of Tesla shareholders involved in a class-action suit against the company, claiming Tesla's Chief Pedo Guy manipulated the company's stock price with his tweets, appears to have leaked a juicy tidbit: the judge has found Musk "acted with scienter" when tweeting a statement that the funding was secured to take Tesla private.

NBC News:

Damages from the shareholders' class-action lawsuit could amount to billions of dollars that would be paid by Musk and Tesla to those who are members of the class.

The shareholders' attorneys said in the filing out Friday that Judge Edward M. Chen, who is presiding in this matter, had concluded that Musk acted with scienter — in other words, that he knowingly made false statements about having funding secured when he tweeted.

This information was revealed in a request the shareholders' lawyers made for a temporary restraining order against Musk to stop him from making further public remarks about aspects of this case, as he did during a widely viewed appearance at the TED 2022 conference on April 14.
[END]

[1] URL: https://boingboing.net/2022/04/17/court-filing-suggests-elon-musk-knew-he-was-misleading-people-with-his-tweets-claiming-to-take-tesla-private.html
[2] URL: https://creativecommons.org/licenses/by-nc-sa/3.0/deed.en_US

BoingBoing via Magical.Fish Gopher News Feeds:
gopher://magical.fish/1/feeds/news/rferl/

You are viewing proxied material from magical.fish. The copyright of proxied material belongs to its original authors. Any comments or complaints in relation to proxied material should be directed to the original authors of the content concerned. Please see the disclaimer for more details.