As Musk escalates his battle to buy Twitter, the lingering ramifications of his past use of the social media platform could come back to haunt him
Elon Musk | Tesla | Twitter
Last updated on Apr 25, 2022 00:27 IST
Tesla CEO Elon Musk earned the nickname “Teflon Elon” by successfully fending off multiple legal challenges. But a recent court ruling suggests his personal winning streak could be in jeopardy. Last week, it was revealed that a San Francisco judge determined one of Musk’s 2018 tweets about taking his company private was a lie. It’s one of at least a dozen high-profile cases Tesla or Musk are embroiled in years after posting the infamous ‘funding secured’ tweet, sending stocks skyrocketing and angering the Securities Department. and Exchange Commission of the United States. As Musk escalates his battle to buy Twitter, the lingering ramifications of his past use of the social media platform could come back to haunt him. The judge’s decision tips the scales heavily in favor of Tesla investors who are suing Musk and Tesla for up to $12 billion in business losses they attribute to privatization tweets. That case is scheduled for a jury trial in January. The ruling poses a threat to Musk’s efforts to free himself from SEC scrutiny — a quest so personal that he became visibly emotional while lambasting the agency at a TED talk in Canada last week.
First published: Monday, April 25, 2022. 00:27 IST