{"id":1444400,"date":"2022-04-18T15:00:52","date_gmt":"2022-04-18T19:00:52","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1444400"},"modified":"2022-04-18T15:01:02","modified_gmt":"2022-04-18T19:01:02","slug":"judge-elon-musks-infamous-tweets-about-using-tesla-private-were-false","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/judge-elon-musks-infamous-tweets-about-using-tesla-private-were-false\/","title":{"rendered":"Judge: Elon Musk&#039;s Infamous Tweets About Using Tesla Private Were False"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fjudge-elon-musks-infamous-tweets-about-using-tesla-private-were-false%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1444400&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p class=\"subheading\">Recent court filings show that late on Friday, a judge ruled that Tesla CEO Elon Musk knowingly lied when he tweeted about a deal to take Tesla private in 2018. The infamous \u201cfunding secured\u201d tweet landed Musk in hot water with securities regulators and his own shareholders.<\/p>\n<p>CNBC <a href=\"https:\/\/www.cnbc.com\/2022\/04\/16\/elon-musk-funding-secured-tweets-ruled-false-new-court-filing-suggests.html\">reports<\/a>\u00a0that a court filing made last Friday in relation to the ongoing case between shareholders suing Tesla and CEO Elon Musk over alleged securities fraud showed that a ruling had been made in relation to Musk\u2019s statements about taking the company private.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<div id=\"attachment_9176095\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/12\/AP_101027052253.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-9176095\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/12\/AP_101027052253.jpg\" alt=\"Tesla CEO Elon Musk unveils the new Tesla factory in Fremont, Calif., Wednesday, Oct. 27, 2010. The new Tesla factory is the former NUMMI plant. (AP Photo\/Paul Sakuma)\" width=\"640\" height=\"480\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Tesla CEO Elon Musk unveils the new Tesla factory in Fremont, Calif., Wednesday, Oct. 27, 2010. The new Tesla factory is the former NUMMI plant. (AP Photo\/Paul Sakuma)<\/p>\n<\/div>\n<p>Shareholders are suing Tesla over money they lost following Musk\u2019s tweets in 2018 in which he stated that he had secured funding to take Tesla private at $420 a share. A judge has now ruled that Musk knowingly made false statements in posting these tweets.<\/p>\n<p>Following Musk\u2019s tweets, Tesla\u2019s stock trading halted then shares became extremely volatile for a considerable amount of time. Musk later claimed to have been in discussions with Saudi Arabia\u2019s sovereign wealth fund and was confident that he could secure funding at $420 a share, but a deal was never finalized.<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>The\u00a0SEC sued Musk at the time, claiming that he had\u00a0committed securities fraud. Musk finally agreed to an SEC settlement after initially refusing and both he and Tesla paid a $20 million fine; but in February of this year, it was <a href=\"https:\/\/www.breitbart.com\/tech\/2022\/02\/08\/hypemaster-musk-faces-scrutiny-sec-delivers-another-subpoena-to-tesla-over-elons-social-media-antics\/\">reported<\/a> that Musk was issued another subpoena by the SEC which was attempting to determine whether he had complied with the settlement agreement.<\/p>\n<p>Judge Edward M. Chen, who is presiding over a shareholders\u2019 lawsuit against Musk, concluded that Musk acted with <a href=\"https:\/\/www.dictionary.com\/browse\/scienter\">scienter<\/a> \u2014 that he knowingly made false statements about having funding secured to take Tesla private at the time of his tweets.<\/p>\n<p>Musk lashed out at the SEC on Thursday during a TED conference, calling the SEC\u2019s San Francisco \u201cbastards.\u201d Musk commented:\u00a0\u201cThe SEC knew that funding was secured but they pursued an active, public investigation nonetheless at the time.\u00a0Tesla\u00a0was in a precarious financial situation. And I was told by the banks that if I did not agree to settle with the SEC that they would, the banks would cease providing working capital and\u00a0Tesla\u00a0would go bankrupt immediately. So that\u2019s like having a gun to your child\u2019s head. I was forced to concede to the SEC unlawfully.\u201d<\/p>\n<p>Read more at <a href=\"https:\/\/www.cnbc.com\/2022\/04\/16\/elon-musk-funding-secured-tweets-ruled-false-new-court-filing-suggests.html\">CNBC here.<\/a><\/p>\n<p><strong><i>Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship. Follow him on Twitter\u00a0<\/i><i><a class=\"x5l\" href=\"http:\/\/twitter.com\/lucasnolan\" target=\"_blank\" rel=\"noopener external\">@LucasNolan<\/a>\u00a0<\/i><i>or contact via secure email at the address\u00a0<a class=\"x5l\" href=\"mailto:lucasnolan@protonmail.com\" target=\"_blank\" rel=\"noopener external\">lucasnolan@protonmail.com<\/a><\/i><i><\/i><\/strong><i><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Recent court filings show that late on Friday, a judge ruled that Tesla CEO Elon Musk knowingly lied when he tweeted about a deal to take Tesla private in 2018.<\/p>\n","protected":false},"author":28,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1444400","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1444400","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/28"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1444400"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1444400\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1444400"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1444400"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1444400"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}