Elon Musk testifies about 2018 Tesla takeover tweet
Tech Desk : dhakamirror.com
Elon Musk, Tesla Inc’s (TSLA.O) chief executive, testified on Friday that one of his tweets did not affect the stock price of his electric car company, according to reports.
“Just because I tweet something, doesn’t mean people believe it or act accordingly,” Musk said in his defense. “The causal relationship is clearly not there simply because of a tweet.”
After nearly 30 minutes of testimony from Musk, the San Francisco court adjourned until Monday.
“Am considering taking Tesla private at $420. Funding secured,” Musk tweeted in 2018.
The lawsuit alleges that the tweet cost shareholders millions of dollars in losses.
In a separate Tweet, he wrote: “Investor support is confirmed. Only reason why this is not certain is that it’s contingent on a shareholder vote.”