Nicholas Porritt, a lawyer for the investors, said they are considering next steps and were “disappointed with the verdict.”Article content“Just because it’s a bad tweet doesn’t make it fraud,” Spiro said during closing arguments, perMusk, who spent almost nine hours on the witness stand, told the court he believed his tweets were truthful and he had lined up the funding needed to take the company private via a verbal commitment from Saudi Arabia’s sovereign wealth fund.
The tweets initially caused Tesla’s stock price to jump, before falling back to earth once it was clear a buyout was not proceeding. “This case ultimately is about whether rules that apply to everyone else should also apply to Elon Musk,” Porritt said during closing arguments.Article contentEarlier in the trial, Musk said the premium was a “coincidence” and, a Canadian musician.Musk added that he believes there is some “karma” around the number, though he’s unsure “whether that is good or bad karma at this point.”
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