By Matt McFarland and Chris Isidore, CNNTesla CEO Elon Musk took the stand in a California court room Friday to testify in the lawsuit over his controversial “funding secured” tweet in 2018. Tesla, Musk and company directors are facing a shareholder lawsuit over his infamous 2018 tweet, which said that he was thinking about taking Tesla private at a price of $420 a share. The lead plaintiff, Glen Littleton, testified Wednesday that he lost more than 75% of his investments following Musk’s “funding secured” tweet. Musk argued Friday that his tweets do not cause Tesla’s stock price to move higher or lower. Also, any offer to take a company private is also generally not announced by the CEO, given concerns about conflict of interest, he said.

Source: CNN January 21, 2023 05:15 UTC