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Search resuls for: "Jody Godoy Tom Hals"


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☆ Musk to return to stand in fraud trial over 2018 Tesla tweet
  + stars: | 2023-01-23 | by ( Jody Godoy Tom Hals | Jody Godoy | Tom Hals | ) www.reuters.com   time to read: +3 min
Companies Tesla Inc FollowTwitter Inc FollowJan 23 (Reuters) - Tesla Chief Executive Elon Musk will take the witness stand again on Monday, as he defends himself against fraud claims that he lied when he tweeted in 2018 that he had funding to take the electric carmaker private. Millions of dollars are at stake as well as the reputation of Musk, whose personal stature is a central asset of the Tesla brand. The trial will test whether Musk's penchant for taking to Twitter to air his sometimes irreverent views misleads investors and damages the value of the company. Shareholders claim they lost millions after Musk tweeted that he had "funding secured" to take Tesla private. The defendants include current and former Tesla directors, whom Spiro said had "pure" motives in their response to Musk's plan.
☆ Musk bets big on beating shareholders at 'funding secured' trial
  + stars: | 2023-01-13 | by ( Jody Godoy Tom Hals | Jody Godoy | Tom Hals | ) www.reuters.com   time to read: +5 min
An attorney for Musk, as well as Tesla and several directors who are also defendants, declined to comment. Musk surrendered the Tesla chairman position and agreed to let a company lawyer vet some of his tweets. He won a bench trial in Delaware's Court of Chancery last year over claims by Tesla shareholders that he allegedly coerced the Tesla board into buying SolarCity, a rooftop solar panel maker. Tesla shareholders had sought billions in damages and they have appealed. Around half are dismissed for failing to comply with securities law and most of the rest are settled.
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