In re Tesla Inc. Securities Litigation

  1. January 27, 2023

    Musk's Tesla Tweet Was Thought To Be 'A Hack,' Jury Told

    An automotive industry analyst for JPMorgan said he was "shocked" when Tesla Inc. CEO Elon Musk tweeted in 2018 about a potential plan to take the company private, testifying in a California federal securities trial Friday that his initial reaction was Musk's account had been "hacked." 

  2. January 25, 2023

    Ex-Tesla CFO Tells Jury Paperwork On Deals 'Not Elon's Style'

    Former Tesla Inc. executive Deepak Ahuja told a California federal securities trial jury on Wednesday that he believed an oral offer from Saudi Arabia's Public Investment Fund to Tesla CEO Elon Musk to take the company private was "serious," saying paperwork on such deals "was not Elon's style at all."

  3. January 24, 2023

    Musk Tells Jury 'Funding Secured' Tweet 'Right Thing' To Do

    Tesla Inc. CEO Elon Musk told a jury on Tuesday in a California federal securities trial that he thought he "was doing the right thing" by posting a 2018 tweet about having secured funding to take the company private, saying the move was intended to keep shareholders informed.

  4. January 23, 2023

    Musk Rips Saudi 'Backpedaling,' 'Ass-Covering' At Fraud Trial

    Tesla CEO Elon Musk testified Monday in a California federal securities jury trial that funding to take Tesla private was secured when a representative for Saudi Arabia's sovereign wealth fund verbally backed the deal, but said things took a turn when the Saudi representative publicly "backpedaled" from the pledge and engaged in what the tech billionaire called "ass-covering."

  5. January 20, 2023

    Elon Musk Takes Stand In Securities Trial Over Tesla Tweets

    Tesla Inc. CEO Elon Musk took the stand Friday afternoon in a California federal securities fraud jury trial over claims by a certified class of thousands of shareholders that the billionaire businessman violated securities law when he tweeted falsely and recklessly about taking the company private at $420 per share.

  6. January 18, 2023

    Funding 'Not Secured': Tesla Investors Tell Jury Musk Lied

    Counsel for a certified class of thousands of Tesla shareholders delivered openings Wednesday in a California federal trial over allegations that CEO Elon Musk violated securities law when he tweeted about taking Tesla private, telling jurors the billionaire businessman "lied" when he said funding for the transaction had been secured.

  7. January 17, 2023

    Tesla Trial Over Musk Tweets Set To Roll As Jury Selected

    A California federal judge on Tuesday empaneled a nine-member jury to consider Tesla shareholders' claims that Elon Musk violated securities laws with tweets about securing funding to take the electric-car maker private, setting the stage for the highly anticipated trial to begin opening statements Wednesday.

  8. January 13, 2023

    Musk Jury Pool Not 'Radioactive' Enough To Move Tesla Trial

    While noting that a few "radioactive" jury candidates held extreme negative views of Tesla CEO Elon Musk, a California federal judge declined his request to move consolidated securities litigation over his take-private tweet to Texas, saying that all prospective jurors had indicated they could be fair.

  9. January 11, 2023

    Musk Can't Move Trial Over 'Bad Press,' Tesla Investors Say

    Investors suing Tesla Inc. and its CEO Elon Musk over his tweets about taking the company private told a California federal judge on Wednesday the class action should stay in San Francisco, scoffing at Musk's attempt to take the case to Texas a week before trial.

  10. January 09, 2023

    Musk Says SF Too Biased For Securities Trial, Texas Is Better

    One week away from trial, Tesla and CEO Elon Musk have asked a California federal judge to move a securities class action over his tweets about taking Tesla private to Texas, saying a San Francisco-area jury may be biased against Musk due to bad press he gets in the local media.