SAN FRANCISO (Associated Press) — A jury has decided Elon Musk didn’t defraud investors with tweets in 2018.
The verdict by the nine jurors was reached after less than two hours of deliberation following a three-week trial.
The trial pitted Tesla investors represented in a class-action lawsuit against Musk, who is CEO of both the electric automaker and the Twitter service he bought for for $44 billion a few months ago.
In 2018, Musk tweeted that he had the financing to take Tesla private even though it turned out he hadn’t gotten an iron-clad commitment for an aborted deal that would have cost $20 billion to $70 billion to pull off.
The verdict is a major vindication for Musk.