Elon Musk cleared of fraud charges

WORLD, Feb. 04 (YPA) – A court in the US has cleared Elon Musk in a class-action securities fraud over his tweets about taking Tesla private, in which he asserted that he had secured funding to turn the company into a private entity.

On Monday, Musk tried to convince the court that his famous tweets in 2018 about his desire to take the company off the stock exchange were not misleading or fraudulent, contrary to accusations by investors who say they lost millions of dollars because of them.

After nearly two hours of deliberation, the nine-person panel found that the investors who filed the case failed to substantiate their claims against Musk or the electric car company he manages.

The owner of Tesla and Twitter could have paid billions of dollars in compensation to shareholders of the electric car giant if the jury in the San Francisco court found him responsible for alleged misinformation by investors.

E.M