Musk beats fraud costs; jury rejects investor claims in “funding secured” case

Elon Musk wearing a suit and mask as he leaves a federal courthouse.

Enlarge / Elon Musk leaves court docket in San Francisco on Friday, February 3, 2023. (credit score: Getty Photographs | Bloomberg)

Replace at 6:15 pm ET: The jury sided with Elon Musk in a ruling issued about two hours after closing arguments on Friday.

“A jury rejected investor claims that Elon Musk violated federal securities legislation when he tweeted in 2018 about doubtlessly taking Tesla personal, handing a serious win to the billionaire chief government,” The Wall Road Journal reported. “The nine-person jury mentioned the buyers who introduced the class-action case didn’t show that Mr. Musk harm them by tweeting a couple of doable deal.”

Authentic story: The category-action trial over Elon Musk’s false “funding secured” tweets ended at this time with closing arguments. A nine-member federal jury now should resolve whether or not Musk and Tesla ought to need to pay damages to buyers who misplaced cash after Musk falsely claimed in August 2018 that he had secured funding to take Tesla personal.

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