From Twitter to Tesla, Elon Musk’s talk has him in some trouble
🗣️ From Twitter to Tesla, Elon Musk’s talk has him in some trouble.
After taking the social media conglomerate private in 2022 (sparking both praise and backlash), Musk is now facing the fallout from an ill-fated tweet he made in August 2018. Tweeting that he seemed to have a buy-out for Tesla in the works, his words sparked a flurry of buying and selling in the stock market. When the buyout never manifested, investors were furious. Now, years later, Musk is facing the music in a San Francisco court where he is expected to explain himself under oath. This court appearance is due to the long-awaited beginnings of a class-action lawsuit on behalf of the Tesla investors at the time of the tweet. U.S. secretes regulators have already penalized Musk for the tweet with a $40 million settlement agreement.
Elon Musk’s X is suing a major advertiser group, alleging antitrust violations for a supposed “boycott” of the platform.