Legal and finance experts say the car company’s attorneys face an ‘uphill battle’ to prove the billionaire’s tweets had no impact on shares
After Elon Musk tapped the tweet button at 12.48 pm on 7 August 2018, a bunch of Tesla investors were about to be taken on a wild ride.
“Am considering taking Tesla private at $420. Financing secured,” read the tweet that has since stirred up more than four years of securities fraud litigation focused on the rampant tweeting habits of the electric automaker’s billionaire CEO.
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