This group of investors accuses Elon Musk of having made them lose money with this tweet which made the action of the group waver for a few days. In his decision published on Saturday, the judge in charge of the case ordered him to no longer state publicly that he had indeed “secure funding” to withdraw the group from the Stock Exchange at 420 dollars per share, as he did again this week during a conference. For his part, Elon Musk has always assured that he was, at the time, in discussions with the sovereign fund of Saudi Arabia and that he was confident of the outcome of these negotiations. However, no deal was ever announced.
According to the document provided by the plaintiffs, the judge recently concluded, in an unpublished partial decision, that “these assertions by Musk were false and misleading and that Musk made these false statements recklessly and with full knowledge of the facts which he misrepresented in his tweets“. They believe that the CEO of Tesla has embarked on a public campaign “to present a contradictory and false version” of the tweet in question, which could sway jurors in a trial set to take place in May.