Elon Musk stated that he is grateful for the Tesla jury’s decision to release him. He tweeted: “Thank goodness”

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• Federal jurors cleared Elon Musk Friday over his 2018 tweet, "funding secured", to take Tesla private.
• The verdict was overturned and the billionaire took to Twitter to express his gratitude.
• He said he was grateful to the jury for clearing him.

After Tesla investors claimed his tweet about 2018 "funding secured", Musk expressed his gratitude to the jurors for clearing him.

The billionaire, who tweeted "Thank you" late Friday night after the verdict of a federal jury consisting of nine people in civil trial.

"The wisdom of the people prevailed!" The billionaire continued. "I am profoundly appreciative that the jury unanimously found innocence in the Tesla-420 take-private case."

Musk's 2018 tweet that prompted Tesla shareholders to start a costly legal battle against him read: "Am considering taking Tesla Private at $420. Funding secured Funding secured.

Musk's lawyers described the meeting he had with Yasir Al-Rumayyan (a Saudi Arabian official in the Private Investment Fund), during which Musk stated that Al-Rumayyan promised to finance the deal to take Tesla public.

Musk stated to jurors that he believed Al-Rumayyan’s verbal promises. This led to Musk's "funding secured” tweet about Tesla going private. Nicholas Porritt, Levi & Korsinsky LLP's attorney for investors, refuted Musk’s claims, arguing that a conversation like that would require some writing record.

Musk's lawyer, Alex Spiro, Quinn Emanuel Urquhart & Sullivan said that Musk was being portrayed by the media as a "fire-breathing Dragon" and that he could not be charged for being a bad Tweeter.

Musk and Spiro did not immediately respond to Insider's request for comment, which was made outside of normal business hours.

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By: stabahriti@insider.com (Sam Tabahriti)
Title: Elon Musk says he is ‘deeply appreciative’ of the jury that cleared him in the Tesla trial, tweeting ‘Thank goodness’
Sourced From: www.businessinsider.com/elon-musk-cleared-tesla-trial-shares-appreciation-jurors-2023-2
Published Date: Sat, 04 Feb 2023 14:29:53 +0000

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