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Elon Musk has won a lawsuit that could have cost him billions of dollars, and it was all over a couple of comments on social media.
A US court has ruled Tesla CEO Elon Musk was not liable for comments he made on social media platform Twitter – which some investors alleged were misleading.
In August 2018, Mr Musk posted on Twitter that Tesla – a publicly-traded company – was about to be bought out and taken private, and that funding had been “secured”.
While he says he believed a deal was imminent with Saudi Arabia’s Public Investment Fund, the plan never eventuated.
“I had no ill motive,” Mr Musk testified. “My intent was to do the right thing for all shareholders.”
According to news outlet Reuters, a jury unanimously came to the conclusion that Mr Musk was not liable.
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