Elon Musk testified on Friday that investors do not always react to his Twitter messages as he expects, defending himself in a fraud trial.
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The case is a rare securities class action trial and the plaintiffs have already cleared high legal hurdles, with U.S. Judge Edward Chen ruling last year that Musk’s funding post was untruthful and reckless.Musk, wearing a dark suit over a white button-down shirt, spoke softly and in a sometimes bemused manner, a contrast to his occasional combative testimony in past trials.
Earlier on Friday, Tesla investor Timothy Fries told the jury that he lost $5,000 buying Tesla stock after Musk sent the tweet, which sparked volatile swings in Tesla’s stock.
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