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Virgin Orbit plans for insolvency amid rescue talks with investors | Business News
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Virgin Orbit has begun drawing up detailed contingency plans for its insolvency days after halting its operations and furloughing its workforce. Sky News has learnt that the commercial space satellite venture founded by Sir Richard Branson‘s Virgin Group is working with Alvarez & Marsal (A&M) and Ducera, two restructuring firms, on fallback plans in the […]
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Elon Musk: Tesla and SpaceX founder cleared of deceiving investors with 2018 tweet | World News
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Elon Musk did not deceive his investors when he tweeted in 2018 that he had the funding to take Tesla private, a jury has found. Investors had sought to sue the SpaceX owner for billions of dollars because his tweet caused Tesla’s shares to soar, only to crash 10 days later when it became clear […]
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Elon Musk’s ‘lies’ about Tesla on Twitter cost investors millions, court told | World News
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Elon Musk “lied” when he claimed he had “secured” funding to take Tesla private, a lawyer for investors has told a court. The company’s chief executive wrote in 2018 that he had “secured” funding to take the electric carmaker private and later that investor backing was “confirmed”, causing shares to fall and then to soar. […]
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Elon Musk and Tesla going on trial over claims his tweets cost investors billions of dollars | Science & Tech News
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Elon Musk and Tesla are set to go on trial over allegations that shareholders were defrauded out of billions of dollars by his tweets. The company’s chief executive wrote in 2018 that he had “secured” funding to take the electric carmaker private and later that investor backing was “confirmed”, causing shares to soar and then […]