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Elon Musk goes to trial after being sued by Tesla shareholders for fraud – BBC News

Elon Musk goes to trial after being sued by Tesla shareholders for fraud – BBC News

 

Elon Musk is being sued by Tesla shareholders arguing he manipulated the firm’s share price.

The case centres on tweets from 2018, saying that he would take Tesla private.

 

US regulators removed Mr Musk as Tesla chairman because of the posts.

 

However, the Tesla CEO argued he believed that he had secured funding from Saudi Arabia’s Investment Fund, and did not commit securities fraud.

 

Mr Musk said he cannot get a fair trial in San Francisco. He wanted the trial to take place in Texas – where he has moved Tesla’s headquarters – but that was rejected and a jury has been selected.

 

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