A jury decided Friday that Elon Musk was not liable for losses suffered by investors after he posted messages on Twitter that he had secured the funding to take Tesla private in 2018.<\/p>\n
Investors had sued Mr. Musk, Tesla and the company\u2019s board, arguing that Mr. Musk\u2019s statements about his embryonic plan to take the electric car company private had devastating financial consequences for them. But in a federal civil trial over the last three weeks, lawyers for Tesla and Mr. Musk, the car company\u2019s chief executive, have argued that he was such a successful businessman that he could have easily obtained financing to take Tesla private.<\/p><\/blockquote>\n
On August 7, 2018, Musk wrote on Twitter: \u201cAm considering taking Tesla private at $420. Funding secured,\u201d Musk wrote at the time. \u201cInvestor support is confirmed. Only reason why this is not certain is that it\u2019s contingent on a shareholder vote.\u201d<\/p>\n