Musk tells court he lacked ‘specific’ funding to take Tesla private

Musk tells court he lacked ‘specific’ funding to take Tesla private

CEO of electric carmaker says finance was ‘not an issue’ but he did not have binding commitments from investors

Elon Musk expected strong financial support when he tweeted that he would take Tesla private in 2018, but lacked specific commitments from potential backers, according to testimony he gave on his third day of questioning in a San Francisco federal court.

Musk is accused of defrauding investors by driving up the price of Tesla stock by tweeting on 7 August 2018 that he had “funding secured” to take the electric carmaker private.

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