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U.S Court Clears Elon Musk in Tesla case few hours after Trump Declared Winner
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A U.S. appeals court upheld a jury’s verdict clearing Elon and Tesla of liability over claims they misled investors with his 2018 tweet stating he had “funding secured” to take the company private.
The 9th U.S. Circuit Court rejected investor arguments about flawed jury instructions, affirming that the question of Elon’s knowledge of false statements was relevant for determining damages.
This case originated from a $40 million SEC settlement linked to the tweet, which initially inflated Tesla’s stock price.
