This was announced by the lawyer of the billionaire.
Bloomberg recalls that the trial over Elon Musk’s scandalous tweet about intentions to make Tesla private through a share buyback will continue for two weeks, and lawyers representing the interests of the plaintiffs and the defendant have already expressed their positions and arguments in court. Alex Spiro, who defends Musk, explained that his client published the same tweet in 2018 on the way to the airport, shortly after reading a Financial Times article about the realized intentions of the Saudi Arabian sovereign wealth fund to invest in Tesla capital.
Image Source: Bloomberg
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As the defense explains, Elon Musk decided to reveal his intentions to privatize spontaneously, because he was afraid of further leakage of this information from other sources. At the same time, Musk’s lawyer argues that there is no reason to dispute the sincerity of the billionaire’s intentions to privatize the company. The disclosure of these intentions did not bring significant damage to the stock market, according to the lawyer. He also said that until August 7, 2018, Musk was in talks with Michael Dell, Silver Lake Management investment fund and Goldman Sachs Group.
