Elon Musk attends the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, on March 22, 2022.SAN FRANCISCO - A court said that Elon Musk's 2018 tweets that funding was secured to take Tesla private was inaccurate and reckless, saying "there was nothing concrete" about financing from Saudi Arabia's sovereign wealth fund at that time.
In 2018, Musk met with representatives of the Saudi Arabia's Public Investment Fund and had a discussion about taking Tesla private, but evidence shows that "there was nothing concrete about funding coming from the PIF," the judge wrote."No reasonable jury could find that Mr. Musk did not act recklessly given his clear knowledge of the discussions," he said.
The summary judgment, made on April 1, was sealed for more than a month before it was publicly available on Tuesday . He said it is are that class action plaintiffs get summary judgment on falsity and scienter before going to a jury trial, scheduled in January.The remaining issue is what damages the intentionally false statement has caused to shareholders, he said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Court says Musk recklessly tweeted that 'funding secured' for taking Tesla privateSAN FRANCISCO : A court said that Elon Musk's 2018 tweets that funding was secured to take Tesla private was inaccurate and reckless, saying 'there was nothing concrete' about financing from Saudi Arabia's sovereign wealth fund at that time. The decision by U.S. District Judge Edward Chen of San Francisc
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Elon Musk says Tesla open to buying a mining companyTesla is open to buying a mining company if producing its own supply of electric vehicle (EV) metals would speed up worldwide adoption of clean energy technologies, Chief Executive Officer Elon Musk said on Tuesday (May 10). Concern is mounting across the EV industry that there may not be enough supply of
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Musk says he will stay at Tesla as long as he is usefulTesla Chief executive Elon Musk said on Tuesday that he will stay at the electric car company as long as he is useful amid concerns that his planned buy of Twitter would distract him from his job at Tesla. When asked about how long he expects to stay at Tesla, he said: \u0022As long as I can be useful\u0022.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Sweet gesture: Elon Musk gives Indonesian Kopiko candy thumbs up, stock price rises 7.35pc (VIDEO)KUALA LUMPUR, May 11 ― All-time favourite and nostalgic coffee-flavoured Kopiko candy continues to impress even people from different continents with its unique taste. That was the case for the...
Source: YahooSG - 🏆 3. / 71 Read more »
Agenda behind Indonesia's president Joko Widodo's meeting with Elon Musk
Source: STForeignDesk - 🏆 4. / 71 Read more »
Twitter ad business could surge as advertisers pin hope on MuskElon Musk\u0027s US$44 billion deal to take Twitter private could mark the end of the social media platform\u0027s advertising business, many in the ad industry have worried. But in the weeks since Apr 25 when the Tesla Inc chief executive announced the deal, Madison Avenue\u0027s attitude to Musk\u0027s upcoming ve doubtful. Pat2Young
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »