A U.S. jury found Tesla CEO Elon Musk and his company were not liable for misleading investors when Musk tweeted in 2018 that he had 'funding secured' to take the electric-car company private
"A dark chapter is now closed for Musk and Tesla," Wedbush analyst Dan Ives said. Ives added that some Tesla investors feared Musk might have to sell more Tesla stock if he lost.
The U.S. anti-securities fraud law "has always been thought to be this great bulwark against misstatements and falsehoods," he said. "This outcome makes you wonder if it is up to the job in modern markets," he said, adding that Musk himself was likely to "double down" on his communication tactics after the verdict.
"This case ultimately is about whether rules that apply to everyone else should also apply to Elon Musk," he said.
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