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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 appears in court to defend Tesla buyout tweets | Science & Tech News
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Elon Musk has appeared in court to refute allegations that Tesla 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 fall. Less…
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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…
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Elon Musk emails staff as Tesla stocks reach two-year low | Business News
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Tesla stocks have slid to their lowest value in more than two years as the electric car maker plans to reduce its production cycle and investors worry how much time Elon Musk is dedicating to managing Twitter. Musk emailed Tesla staff telling them not to be “bothered by stock market craziness” and that Tesla will…
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Tesla recalls more than 300,000 vehicles in US over rear light problems | Business News
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Tesla is recalling more than 300,000 vehicles in the US because of potential problems with their rear lights. The Texas-based electric vehicle manufacturer said the recall affects some 2023 Model 3 and 2020-2023 Model Y vehicles. Tesla said it has had no reports of any crashes or injuries related to the recall of about 321,000…
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Elon Musk sells $6.9bn in Tesla shares as battle with Twitter continues | Business News
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Elon Musk has sold $6.9bn (£5.7bn) of shares in his electric vehicle maker Tesla as his battle against Twitter continues. Mr Musk sold about 7.92 million shares between 5 August and 9 August, according to multiple filings, meaning he now owns 155.04 million shares in the company. In April, the world’s richest man announced a…
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Bitcoin suffers briefly after Tesla sells majority of its holdings | Business News
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Bitcoin lost half-a-percent overnight after Tesla said it had sold about 75% of its holdings of the virtual token. The world’s largest cryptocurrency slid to $23,268.92 (£19,489) after the news, although it rebounded later and was last up 1.41% at $23,578.75. Tesla bought $1.5bn (£1.2bn) of bitcoin more than a year ago, but on Wednesday…