Elon Musk has escaped the legal wrath of Tesla shareholders, who accused the controversial billionaire of recklessly damaging their investments.
Elon Musk has just been granted a major legal relief over his controversial “funding secured” tweet from 2018, which had been portrayed as fraudulent in nature by a group of Tesla investors and responsible for triggering massive losses. A jury in San Francisco, CA, found that the controversial executive did not willfully violate federal securities laws with his tweet, nor was he the catalyst for any subsequent financial loss for investors.
It was not Musk’s first run in with authorities over allegations of Twitter misuse. Back in 2018, Musk had to cough up $20 million in settlement fine following a securities fraud charge brought against him by the US Securities and Exchange Commission over the same tweet. In the years that followed, Musk has publicly criticized the SEC on multiple occasion,s and has even claimed that he was pressured into settling with the agency.
Am considering taking Tesla private at $420.
