Technology
Musk Lawyer Defends ‘Rushed’ Take-Private Tweet at Trial
- Investors’ lawyer said there was no plan for $60 billion deal
- ‘This was not fraud, not even close,’ defense attorney says
Elon Musk
Photographer: Al Drago/BloombergThis article is for subscribers only.
Tesla Inc. CEO Elon Musk was on his way to the airport in August 2018 when he made a “split-second decision” to tweet that he was “considering” taking the company private with “funding secured” because he’d just read a news article revealing that Saudi Arabia was investing heavily in the electric-car maker.
That’s the defense his lawyer presented Wednesday to a jury that will decide whether the billionaire entrepreneur defrauded Tesla investors of billions of dollars because they placed big bets on a tweet that turned out to be false.