Tesla board Chair Robyn Denholm is a defendant in the lawsuit alongside Musk, Tesla and other directors
. Investors allege they lost billions of dollars because of Musk’s Aug. 7, 2018, tweets that he had “funding secured” and “investor support confirmed” to take Tesla private at $420 per share, which was a premium of about 23% to the prior day’s close.At the time of the tweets, Denholm led Tesla’s audit committee, which oversees company controls meant to ensure compliance with securities law.
“If I believed that Elon was trying to mislead the public I would have stood down from the board,” she said.
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