Tesla’s Elon Musk Not Liable In ‘Funding Guarantee’ Trial
Tesla Inc. CEO Elon Musk was found not liable Friday during a federal trial in San Francisco over “guaranteed funding” and his other tweets on 2018.
Last week, Musk testified that he had reviewed the tweets surrounding his idea of buying Tesla
in his own way “do the right thing” for all Tesla shareholders.
The jurors in the three-week trial also heard from other current and former Tesla executives as well as board members. The trial had some humorous moments, like when the plaintiff’s attorney referred to Musk as “Mr. Tweet.”
Tesla shares rose 1.6% in Friday’s extended session after ending the regular trading day up 0.9%. The stock has lost 36% over the past 12 months, compared with a roughly 8% drop for the S&P 500.