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Jury: Musk didn’t deceive investors with 2018 Tesla tweets
- jonathankoren 4y agoGod bless Alex Spiro, who managed to concede that Musk’s “funding secured” tweets were “technically inaccurate”, but also to convince a jury that it was not deceptive.
- infamouscow 4y agoThe lawyers for the Tesla shareholders failed to convince the jury of any wrong doing, not the other way around.
- papito 4y agoNo, they failed to prove damages, not that there wasn't any wrongdoing. Stay with the group.
- ggm 4y agoslanting towards "bad jury" but law being what it is, they had the power to do it. I'm hoping this doesn't set a precedent for bad advice to market from people who could alter market trajectory. "Only kidding" and "but I really believed it" are pretty bad getout clauses for this space.
- ksherlock 4y agovia Matt Levine/Money Stuff (https://www.lit-sl.shearman.com/siteFiles/39719/SL2_In%20Re%20Tesla,%20Inc.%20Sec.%20Litig.-musk%20order%20unsealed.pdf https://www.lit-sl.shearman.com/siteFiles/39719/SL2_In%20Re%...) The judge ruled pre-trial that the tweets were false and recklessly false at that, so that wasn't even up for debate. ("No reasonable jury could find that Mr. Musk did not act recklessly ...", "No reasonable jury could find “Funding secured” accurate and not misleading ...”) WSJ (https://www.wsj.com/articles/elon-musk-found-not-liable-in-trial-over-tweets-proposing-to-take-tesla-private-11675464951 https://www.wsj.com/articles/elon-musk-found-not-liable-in-t...) does a better job of explaining it: "Jurors were asked to decide, among other issues, whether Mr. Musk’s tweets were material to investors and whether the misrepresentations caused investors to sustain losses."