Elon Musk has been cleared of any wrongdoing on claims he defrauded Tesla investors.
The first tweet read "funding secured;" hours later Musk tweeted that the deal was imminent.
After these two tweets, Twitter's stock surged over the course of 10 days, only for Musk to fall back on the deal that indicated he never had guaranteed financial backing. Elon Musk spoke with the media as he left a federal building in San Francisco after he finished day three on the witness stand. "Thank goodness, the wisdom of the people has prevailed! I am deeply appreciative of the jury’s unanimous finding of innocence in the Tesla 420 take-private case,"Despite not being required, Musk showed up in court for the closing arguments. Had he been liable and determined to have committed wrongdoing, Musk and Tesla would have had to pay billions in damages.like everyone else," said Nicholas Porritt, a lawyer for the Tesla shareholders.
Musk had initially believed he had the funding secured from Saudi Arabia's Public Investment Fund to take the company private, eight years after it was publicly held. Musk defended his tweets as well-intentioned and "had no ill motive."The Associated Press contributed to this report. This story is breaking and will be updated with more informationthat I have read and agree
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