The American court acquitted Elon Musk of the charge of “fraud” regarding “Tesla’s tweet”.

A court in the United States of America acquitted Elon Musk, the founder of Tesla (the electric car company), of the charge of “fraud” related to a tweet about the company.

Tesla shareholders sued Mr. Musk over a tweet in which he said the company was “funded” to take it private.

Mr. Musk was not present when a jury unanimously acquitted him in a San Francisco, California, court. He welcomed the court’s decision.

Mr. Musk’s lawyer said that his client’s intention with that tweet was not to deceive Tesla shareholders and it was simply a “bad” tweet. But the lawyer of the shareholders considered this sentence to be their “disappointment” and said that they will consider the next step.

According to the BBC’s James Clayton, Mr Musk faced a number of complaints from Tesla shareholders who claimed he had “misled” them with posts on Twitter in August 2018. This was despite the fact that the $72 billion (£60 billion) purchase offer never materialized.

If a San Francisco jury had found Mr. Musk guilty, he would have been ordered to pay billions of dollars in damages.

The BBC reporter added that nine members of the jury reached their verdict in less than two hours on Friday afternoon.

Mr. Musk wanted the trial moved to Texas, where Tesla is based, because he believed a fair trial could not take place in San Francisco, but he welcomed the court’s decision.

“Thank God, wisdom has prevailed,” he tweeted.

He said he was deeply grateful for the unanimity of the jury for the acquittal.

Tesla shares rose in after-hours trading after the court ruling.

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *

English English فارسی فارسی Deutsch Deutsch پښتو پښتو
WP Radio
WP Radio