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Elon Musk ‘funding secured’ tweets ruled false new court filing suggests

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Elon Musk

Krisztian Bocsi | Bloomberg | Getty Images

In a court filing out late Friday, shareholders who are suing Tesla and CEO Elon Musk over alleged securities fraud said they won part of a critical ruling in their class-action lawsuit.

The shareholders are suing Tesla over money they lost after Musk tweeted in 2018 that he was considering taking his electric vehicle company private at $420 per share and said he had funding secured to do so.

Tesla’s stock trading initially halted, then shares were highly volatile for weeks after the tweets. Musk later said that he had been in discussions with Saudi Arabia’s sovereign wealth fund and felt confident that funding would come through at his…



Source cnbc.com

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