Musk acquitted in the court on the suit of the Tesla investors because of the Twitter posts

An American jury acquitted businessman Elon Musk, whom a group of Tesla investors had tried to sue for his Twitter posts about plans to buy back shares to turn the electric-car maker into a non-public company.

A San Francisco jury accepted Musk’s arguments that at the time he actually considered “secured” financing for the deal through a Saudi sovereign wealth fund.

“Thank God, human wisdom prevailed! I deeply appreciate the jury’s unanimous verdict of not guilty,” Musk wrote on Twitter.

In August 2018, the businessman publicly announced plans to buy back Tesla stock at $420 a share to make the company fully private. The deal ultimately didn’t happen, and Tesla’s stock price went through an extended period of turbulence.

Leave a Reply

Your email address will not be published. Required fields are marked *