Skip to content
Saturday, June 6
  • About Us
  • Contact Us
  • Advertise with us
  • Login
  • Add Post
  • Account
  • Dashboard
International Media News

International Media News

International Media News

International Media News

International Media News

  • Home
  • India
  • World
  • Business
  • Entertainment
  • Sports
  • Editors choice
  • Gallery
    • Image
    • Video-gallery
  • Home
  • India
  • World
  • Business
  • Entertainment
  • Sports
  • Editors choice
  • Gallery
    • Image
    • Video-gallery
Home>>World>>US Judge Deemed Elon Musk’s Tweets On Tesla “Misleading,” Claim Investors
World

US Judge Deemed Elon Musk’s Tweets On Tesla “Misleading,” Claim Investors

international media news
April 18, 2022 289 Views0

A 2018 tweet posted by Elon Musk in which he claimed to have secured the funding to take Tesla private was deemed “false and misleading” by a judge, according to documents filed by investors suing his electric car company.

The shareholders have accused Tesla of securities fraud over their stock market losses in the wake of the August 7, 2018 tweet, which caused the share price to fluctuate wildly for several days.

In a court filing late Friday, plaintiffs asked the federal judge in charge of the case, Edward Chen, to order Musk to stop saying publicly that he “secured” funding to take Tesla private at $420 a share, as he again stated on Thursday.

In the past, the billionaire entrepreneur has said he was in talks at the time with Saudi Arabia’s sovereign wealth fund and that he was confident he would reach a deal. But no agreement was ever announced.

According to the filing, Chen recently concluded in an order not made public that Musk’s statements were “false and misleading,” and made “recklessly and with full awareness of the facts that he misrepresented in his tweets.”

Plaintiffs accused Musk of engaging in “a high-profile public campaign to present a contradictory and false narrative regarding his August 7, 2018 tweets” — which could influence eventual jurors assigned to the trial set for later this year.

The Securities and Exchange Commission, the US market regulator, also charged him with fraud in the wake of the tweets.

He eventually agreed to a deal to settle the charges, which required Tesla’s lawyers to review any social media posts with information deemed “material” to shareholders.

He also paid a $20 million fine and stepped down as Tesla’s chairman.

Musk, who has unveiled a $43 billion hostile takeover bid for Twitter, said Thursday he felt forced into the deal with the SEC to save Tesla.

 

Share:

Previous Post

Karan Johar channels his inner Ranveer Singh in style; latter cannot stop laughing

Next Post

Newlywed Ranbir Kapoor resumes work 2 days after wedding with Alia Bhatt, gets spotted in the city

Leave a Reply Cancel reply

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

Recent News

  • Major blow for team India, Virat Kohli reportedly ruled out of Afghanistan ODI series due to…
  • Governor: Manoj Bajpayee reveals he was ‘very bad at Economics,’ had to learn basics to play an RBI Governor
  • Andhra Pradesh teacher recruitment row: YSRCP alleges ‘mega DSC scam’ and misuse of sports quota; CM Naidu hits back
  • PM Modi, Venezuela’s Acting Prez Rodriguez hold bilateral talks at Hyderabad House
  • Govt set to scrap Capital Gains Tax on FPI investments in G-Secs to woo foreign investors

Latest News

Major blow for team India, Virat Kohli reportedly ruled out of Afghanistan ODI series due to…

international media news
June 5, 2026

Indian cricket fans and the team management have received a significant setback ahead of the three-m

Governor: Manoj Bajpayee reveals he was ‘very bad at Economics,’ had to learn basics to play an RBI Governor

international media news
June 5, 2026

Andhra Pradesh teacher recruitment row: YSRCP alleges ‘mega DSC scam’ and misuse of sports quota; CM Naidu hits back

international media news
June 5, 2026

PM Modi, Venezuela’s Acting Prez Rodriguez hold bilateral talks at Hyderabad House

international media news
June 5, 2026

Latest News

Major blow for team India, Virat Kohli reportedly ruled out of Afghanistan ODI series due to…

international media news
June 5, 2026

Governor: Manoj Bajpayee reveals he was ‘very bad at Economics,’ had to learn basics to play an RBI Governor

international media news
June 5, 2026

Popular Categories

  • India
  • World
  • Business
  • Entertainment
  • Sports

Quick Links

  • About Us
  • Contact Us
  • Advertise with us
  • Login
  • Add Post
  • Account
  • Dashboard
All Rights Reserved © International Media News | Website By - Hurl Technologies Pvt. Ltd. | WordPress Theme Ultra News