Elon Musk On Trial: “Was Told Saudi Crown Prince Was On Board” Tesla Tweet Scandal

In a trial that has been closely watched by the technology world, Elon Musk, the CEO of Tesla, has been accused of violating securities law. The trial revolves around a tweet he sent in 2018, in which he claimed that he had been told that the Saudi Arabian Crown Prince was on board with a plan to take Tesla private at $420 per share.

The Securities and Exchange Commission (SEC) has argued that Musk’s tweet was misleading, as he had not consulted with the Crown Prince before making the statement. They have also alleged that Musk had not secured the necessary funding to take Tesla private.

Musk has argued that he had a good faith belief that the Crown Prince was on board with the plan, and that his tweet was not intended to mislead investors. He has also argued that he had received verbal commitments of funding from the Saudi Arabian government.

While the SEC has sought to impose a hefty fine on Musk, the jury in the case is still deliberating. If the jury finds Musk guilty, he could face significant penalties, including a fine and possible suspension from running Tesla. The outcome of the trial is likely to have a major impact on the future of Tesla and the technology industry as a whole.