Markets live: Spotify sacks 6pc of workforce Wall St lifts on tech rebound, ASX to open higher – ABC News
Elon Musk has taken the witness stand for a second day in a San Francisco federal court.
The tech billionaire is defending against claims that he defrauded investors when he tweeted on August 7, 2018, that he had “funding secured” to take Tesla private at $US420 per share, and that “investor support is confirmed.”
Investors say they lost millions as a result of Musk’s tweets.
Tesla’s stock price surged after Musk’s tweets, and later fell as it became clear the buyout would not materialize.
US Judge Edward Chen ruled last May that Musk’s post was untruthful and reckless.
A jury of nine will decide whether the Tesla CEO artificially inflated the company’s share price by touting the buyout’s prospects, and if so by how much.
On Monday (US time), Musk told the court that he was sure he had backing from Saudi financiers in 2018 to privatise Tesla, but said the fund later backpedalled on its commitment.
The Tesla CEO told the shareholders’ lawyer that he met with representatives of Saudi…
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source: https://news.oneseocompany.com/2023/01/23/markets-live-spotify-sacks-6pc-of-workforce-wall-st-lifts-on-tech-rebound-asx-to-open-higher-abc-news_2023012339612.html
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