#elon #musk cleared of fraud in ‘funding secured’ trial
A jury deliberated for about an hour, then found Tesla CEO Elon Musk is “not liable” for losses incurred by investors who accused him of fraud based on his tweets in August 2018 that he was thinking of taking the company private, adding “funding secured,” according to reports from the New York Times and CNBC.
With Musk in attendance, the jury in the billionaire’s securities fraud trial heard closing arguments from an attorney representing a class of Tesla investors who claim they suffered big losses as a result of Musk’s tweet. They also heard from Musk’s lawyers, who claimed all he was guilty of was “poor word choice.” Their decision determines whether Musk and Tesla are liable for possibly billions of dollars in damages or, as it turns…
