Elon Musk’s tweets have landed him in trouble with a lot of things.
One of them is the 2018 tweet where he claimed that he had secured funding to take Tesla Inc. private. But that didn’t happen.
on Friday, a jury found the tech mogul is not liable over that tweet. The trial took place at the San Francisco federal court where the jury said that Musk and his company were not responsible for giving out false information.
The plaintiffs wanted billions in compensation but the jury reached a unanimous decision within just two hours of deliberation.
Musk, who was not present in court, tweeted afterward: “Thank goodness, the wisdom of the people has prevailed! I am deeply appreciative of the jury’s unanimous finding of innocence in the Tesla 420 take-private case.”
In August 2018, Musk tweeted that he had secured funding to take his electric car maker private. This had a significant impact on the company’s share price.
The Tesla CEO was later sued by the shareholders for saying that funding was “secured” as it cost them billions of dollars.
The Securities and Exchange Commission had ordered him to step down as Tesla’s chairman board and to pay a fine of $20 million over his tweet.