Judge deems Musk's 'funding secured' tweet false and misleading. A trial awaits [Yahoo! Finance News]
Tesla, Inc. (TSLA)
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Source: Yahoo! Finance News
Tesla Chief Executive Elon Musk tweeted Aug. 18 he had "funding secured" for a private buyout. A judge Wednesday deemed that statement false.Paul Sancya / )Tesla Chief Executive Elon Musk's famous "420" tweet continues to haunt him.Musk and TeslasettledNow, a civil class-action shareholder lawsuit will go forward against Musk and the company on the same issue. Tesla had filed a motion to dismiss the case, but a federal judge denied it Wednesday.The suit says that short sellers and long investors lost huge amounts of money as the stock skyrocketed on the funding-secured claim, then crashed when Musk couldn't verify the tweet was true.Am considering taking Tesla private at $420. Funding secured.August 7, 2018In its motion, Tesla said the case should be tossed because the plaintiffs didn't prove the tweet was false and misleading. The motion said Tesla itself should not be part of the suit because Musk was tweeting as a "potential bidder," not as Tesla's CEO. The motion said Musk's motiv
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