For Tesla, effects of Elon Musk's take-private tweet continue

For Tesla, effects of Elon Musk's take-private tweet continue

5 years ago
Anonymous $Dftgs0JzgE

https://phys.org/news/2019-02-tesla-effects-elon-musk-take-private.html

However, Tesla also said that by March 7 it plans to file a motion to dismiss a consolidated class-action lawsuit filed in January by shareholders who accused Musk of violating federal securities laws when he tweeted last August that he had secured financing to take the company private.

Musk's tweet set off a flurry of events that included fluctuations in the company's stock and an eventual settlement with the Securities and Exchange Commission after it turned out that there was no agreement with private investors to finance the take-private plan.