2023 Upcoming Trials to Watch

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Elon Musk CEO of Tesla (TSLA)
Tesla CEO Elon Musk, second from left, arrives at U.S. District Court Wednesday, Dec. 4, 2019, in Los Angeles. Musk is going on trial for his troublesome tweets in a case pitting the billionaire against a British diver he allegedly dubbed a pedophile. (AP Photo/Mark J. Terrill)

Elon Musk’s Controversial Tweets Anger Tesla Investors

On January 17, 22023, Elon Musk and Tesla Inc. will be starting their securities fraud trial in California. The trial was initiated by Tesla investors who are upset about tweets Elon made about Tesla’s privacy. Specifically, the CEO tweeted, “Considering taking Tesla private at $420. Funding secured” and, “Investor support is confirmed. Only reason why this is not certain is that it’s contingent on a shareholder vote.”

The class action lawsuit accused Elon of inflating the stock price of Tesla, leading to over a billion dollars in damage. A litigation partner not involved in the case but working at the same firm as Elon’s attorney, stated the following regarding the focus of the trial:

“It will be fascinating to see how both sides offer evidence on that question and how a jury evaluates that proof, especially given the many real-time skeptics about the truth of the tweets and a developing focus on securities fraud via social media platforms like Twitter.”