Musk Testifies Over ‘Funding Secured’ Tweet in Tesla Investors’ Class Action Lawsuit
A lawsuit about a tweet that Elon Musk made years ago continues, concluding its fifth day on Tuesday.
Musk testified for roughly three more hours in a federal trial over a class-action lawsuit alleging he misled Tesla shareholders with a tweet from Aug. 7, 2018.
He defended himself against claims that he illegally manipulated Tesla’s stock price when he wrote on Twitter that he secured funding to take the company private at $420 per share.
Independent investor Glen Littleton has claimed losses of $3.5 million as a result of Musk’s infamous “funding secured” tweet, but a judge previously contradicted Littleton’s claim.
Littleton is the lead plaintiff representing hundreds of other Tesla investors in the class action lawsuit against Musk….
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