Twitter CEO Elon Musk is facing a securities fraud trial slated to kick off on Jan. 17 in San Francisco brought by Tesla investors over Musk’s infamous tweets about taking the company private at $420 a share. kirkland.com
Elon Musk Favors Texas, Says He Can’t Get Fair Trial in San Francisco
Shareholders moved out of San Francisco, saying jurors in the region will probably be biased against him because of recent layoffs at Twitter Inc.
A substantial portion of the San Francisco-area jury pool “is likely to hold a personal and material bias against Mr. Musk as personally responsible for causing material economic harm to the significant number of potential jurors impacted by the layoffs and to the City of San Francisco as a whole.” Musk has sparred with Twitter’s hometown of San Francisco after turning some space at the company’s Market Street headquarters into makeshift bedrooms, a possible violation of city building codes.
Musk Spars With San Francisco Over Probe of Bedrooms at Twitter He bought Twitter for $44 billion in late October and installed himself as chief executive officer. news.yahoo.com
Tesla investors argue Musk can receive fair ‘funding secured’ trial in San Francisco
Jan 11 (Reuters) – A lawsuit alleging Elon Musk manipulated Tesla Inc’s (TSLA.O) stock in 2018 should go to trial next week and he will be able to find unbiased jurors in San Francisco, despite local animosity, said a court filing by shareholders who are suing him for billions of dollars.
Tesla shareholders argued it would be unfair to move the trial to Texas as requested by Musk, who has outraged many in Northern California with the steep job cuts he ordered at Twitter, a San Francisco company he bought in October. “What they refer to as ‘biased’ coverage is, in fact, factual reporting about his management of Twitter, Inc., and has no bearing on the jury’s ability to render a fair verdict,” said the court filing by the shareholders.
U.S. Supreme Court weighs Turkish lender Halkbank’s bid to avoid charges Twitter’s laid-off workers cannot pursue claims via class-action lawsuit, judge rules Microsoft faces EU antitrust warning over Activision deal – sources Drug distributor’s insurance doesn’t cover opioid lawsuits – court Tesla, Musk face trial in shareholder case over 2018 tweets Videos of an audience booing Musk during a surprise appearance at a Dave Chappelle show in San Francisco in December were circulated online. “It sounds like some of the people you fired are in the audience,” the comedian said in the clip.
but nahhh.” Tesla moved its headquarters from the San Francisco area to Texas in 2021. reuters.com
A trial over Elon Musk’s Tesla tweets starts Tuesday
The trial starts Tuesday in San Francisco with jury selection.
Musk’s lawyers said that he wouldn’t get a fair trial in San Francisco due to the jury pool’s probable biases against Musk related to his Twitter takeover, which included laying off over 3,750 employees. npr.org
Musk bets big on beating shareholders at ‘funding secured’ trial
Musk is essentially doubling down after suffering an initial setback last year when the judge in San Francisco federal court ruled that his tweet was “false” and “reckless.” As a result, the jury will need to determine only if the statements impacted Tesla’s share prices if Musk acted knowingly, and the amount of any damages. “Everything is lined up for a plaintiffs’ win here,” said Minor Myers, who teaches corporate law at the University of Connecticut.reuters.com
Saudi wealth fund chief will not testify at Elon Musk’s Tesla trial
The head of Saudi Arabia’s public investment fund will not testify on behalf of Elon Musk at a San Francisco court trial over allegations that the billionaire defrauded investors by promising to take Tesla private.
The PIF chief’s lawyers said Musk’s request for a subpoena was voluntary and fell outside the jurisdiction of the San Francisco court. middleeasteye.net
Musk Faces Class Trial Over Twitter Statements That Tesla Going Private
Elon Musk plans to testify in a Jan. 17 jury trial in which Tesla shareholders allege his 2018 statements on Twitter about going private were fraudulent. law.com
Musk ‘funding secured’ trial set to start
Opening arguments could get underway later on Tuesday, after the jury is selected. Potential panelists were asked ahead of time about their opinions of Musk and whether they own a Tesla vehicle. businesslend.com
Judge Grants Elon Musk’s Request to Delay Trial With Twitter
A judge in Delaware gave Mr. Musk until Oct. 28 to complete the deal. The trial, which was set to start in a little more than a week, could still happen in November. nytimes.com