Elon Musk testified Monday that the $420-a-share price on the deal “was a coincidence” as it was roughly a 20% premium over Tesla’s stock price at the time, and “not a joke.”
Elon Musk testified Monday he believed he had funding secured to take Tesla Inc. private in 2018, both from a Saudi Arabian investment fund and from his stake in SpaceX, and that one of his key tweets on the matter was “absolutely truthful.”
When questioned about texts between himself and Yasir Al-Rumayyan, the sovereign-wealth fund’s top executive, Musk said the texts were essentially “ass covering, for lack of better word,” on the Saudi executive’s part. In the early afternoon, under Spiro’s questioning, Musk said that he had “never” tried to deceive Tesla shareholders, and had SpaceX as a model to ensure their continued investment in a private Tesla.
Earlier in the day, Musk told the court that the $420-a-share price on the deal “was a coincidence” as it was roughly a 20% premium over Tesla’s stock price at the time, and “not a joke.”Plantiff’s lawyer Porritt also asked several questions that led Musk to say he hadn’t talked to major Tesla shareholders such as Baillie Gifford and T. Rowe Price about possibly taking Tesla private. Musk also said he couldn’t recall specifics around speaking with the board about the plan.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Elon Musk takes witness stand to defend Tesla buyout tweetsElon Musk has taken the witness stand to defend a 2018 tweet claiming he had the financing to take Tesla private, which led to a $40 million settlement and a class-action lawsuit alleging he misled investors.
Baca lebih lajut »
Tesla raffle struggles to sell tickets due to Elon Musk's actionsThe organizer of an annual charity raffle to win a Tesla says he's struggling to sell tickets this year because of Elon Musk's antics
Baca lebih lajut »
Tesla’s Problems Go Way Beyond Elon MuskThe EV giant is alienating its customers, bringing in less revenue, and falling behind legacy carmakers.
Baca lebih lajut »
Elon Musk testifies in second day of Tesla tweet trialElon Musk returned to federal court Monday in San Francisco to testify in a class action lawsuit filed by Tesla investors alleging he misled them with a tweet.
Baca lebih lajut »
Was Pro Power Saver Endorsed by Elon Musk and Tesla?Not only did Elon Musk and Tesla have nothing to do with this product, the claim that the device could potentially save homeowners up to 90% off their electricity bill reminds us of a wise saying: If something seems too good to be true, it probably is.
Baca lebih lajut »
Elon Musk testifies in 2nd day of Tesla tweet trialElon Musk returned to federal court Monday in San Francisco, testifying that he believed he had locked up financial backing to take Tesla private during 2018 meetings with representatives from Saudi Arabia’s Public Investment Fund — although no specific funding amount or price was discussed. The billionaire Tesla CEO and Twitter owner is facing a class action lawsuit filed by Tesla investors alleging he misled them with a tweet saying funding was secured to take his electric car company private — for $420 per share. The tweet resulted in a $40 million settlement with securities regulators after the deal never came close to happening.
Baca lebih lajut »