Musk defends himself in Tesla tweet trial for three hours

Elon Musk spent three more hours in the witness box, defending himself against a class action lawsuit. The lawsuit alleges that he misled Tesla shareholders by tweeting that he had “funding secured”. He claimed that he had “funding secured”.

It is unlikely that the Tesla chief executive and Twitter chief executive will be called back to the witness stand in the civil trial, which is expected to last until February.

While being questioned by Alex Spiro, his attorney, the 51-year-old displayed a lot of self-deprecation, while being quizzed as a trustworthy business leader.

He sparred with Nicholas Porritt, a shareholder lawyer who had angered him earlier in the trial.

Mr Musk made no secret of his disdain for Mr Porritt by making a comment that he doubted the lawyer was protecting the best interests of Tesla shareholders. These remarks were quickly rebuked by the judge and were removed from the records. It was inappropriate, US District Judge Edward Chen said.

The trial centers on whether two tweets that Mr Musk sent on August 7, 2018, were damaging to Tesla shareholders. These tweets occurred during the 10-day period before Musk admitted that the buyout he had planned was not going ahead. These statements led to Mr Musk and Tesla reaching the $40 million settlement without admitting any wrongdoing.

Linking Shareholders and Executives :Share Talk

If anyone reads this article found it useful, helpful? Then please subscribe or follow SHARE TALK on our Twitter page for future updates. Terms of Website Use All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned

Weekly Newsletter

Sign up to receive exclusive stock market content in your inbox, once a week.

We don’t spam! Read our privacy policy for more info.