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Elon Musk is expected to testify as early as Friday in a jury trial over his 2018 Twitter post that he had “funding secured” to take Tesla private, which shareholders allege cost them millions in trading losses.
The class action trial in San Francisco federal court centers on allegations that the Tesla CEO lied when he sent the tweet, costing investors. It resumed on Friday morning with investor Timothy Fries telling the jury how he lost $5,000 buying Tesla stock after Musk sent the tweet at the center of the lawsuit.
Musk, known for combative testimony, is expected to address why he has insisted he had Saudi investor backing for the deal, which never came together, and whether he knowingly made a materially misleading statement with his tweet.
