Jury selection begins in investor lawsuit against Elon Musk
The Associated Press
SAN FRANCISCO (AP) – A Silicon Valley judge is questioning potential jurors to hear allegations that Elon Musk cheated Tesla investors by claiming in a 2018 tweet that he had lined up financing to take the electric automaker private.
The tweets fueled a rally in Tesla’s stock price that abruptly ended a week later after it became apparent that Musk did not have the funding for a buyout after all.
Investors then sued him.
They said Tesla shares would not have swung so widely in value if he had not dangled the prospect of buying the company for $420 per share.
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1/17/2023 1:59:28 PM (GMT -6:00)