Elon Musk cleared of fraud in ‘funding secured’ trial

An image of Elon Musk in a tuxedo making an odd face. The background is red with weight scales on it.
Kristen Radtke / The Verge; Getty Photographs

A jury deliberated for about an hour, then discovered Tesla CEO Elon Musk is “not liable” for losses incurred by buyers who accused him of fraud based mostly on his tweets in August 2018 that he was pondering of taking the corporate non-public, including “funding secured,” in keeping with stories from The New York Instances and CNBC.

The deliberation was exceptionally fast. Whereas instances will be tough to check straight, juries took days to deliberate on verdicts for Elizabeth Holmes and Martin Shkreli, each of whom had been on trial for fraud. The choice for Musk took a fraction of that point.

With Musk in attendance, the jury within the billionaire’s securities fraud trial heard closing arguments from an lawyer representing a category of Tesla buyers who declare…

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