American billionaire Ilon Musk will be faced with trial in the case of securities fraud due to his messages on Twitter about the intention to make the manufacturer Tesla Inc electric vehicles non-public company, the newspaper The Wall Street Journal.
In August 2018, Musk wrote on Twitter that he was going to redeem Tesla shares at a price of $ 420 per paper, noting that “financing is provided.”
One of Tesla investors, Glen Littleton, sued the mask, company and members of its board of directors for the period, arguing that the Mask’s messages were false and cost investors several billion dollars in connection with the jumps of promotions, options that began after them, and costs. and Tesla bonds.
Musk in court documents claims that he really considered the opportunity to make Tesla a private company and believed that he had enlisted the support of the Saudi sovereign welfare fund. The Tesla shares transaction did not take place.
District Judge in San Francisco Edward Chen decided that Mask reports were not true. The jury, the selection of which will begin on Tuesday, will last until February 1 inclusive. Including the jury will have to determine whether the mask was essential for investors and whether he understood that they were not true.
It is expected that Musk will appear before the court on Wednesday.