Elon Musk is sued for lying and will cost billions of dollars in court

Elon Musk owner of Tesla is not in a good phase of his life, in recent times he has been suffering several losses. This time Musk is sued for posting a tweet about the Tesla company in 2018. At this time Musk thought of privatizing Tesla at $420 per share, which has not happened to date. Shareholders are asking for billions of dollars for justice and this lawsuit to be under review by February 1.

Incredibly, the Wall Street Journal claimed that Edward Chen, as the US District Judge, ruled that billionaire Elon Musk’s tweet was not a true tweet and that the billionaire actually acted prudently in making this publication.

THE BIGGEST REASON FOR ALL THE REPERCUSSION WAS THAT MUSK SAID HE WOULD PRIVATIZE TESLA FOR $420 A SHARE, SOMETHING THAT NEVER HAPPENED.

There’s no way he can run away from this statement he made himself.

The purpose of this lawsuit is to prohibit Elon Musk from serving as an official of a public company.

Elon has the backing of his Tesla company with his company’s board of directors, they have published who are fully confident in Elon, , in his integrity and his leadership, which resulted in the most successful automobile company in the United States in over a century.

Investors Were Billion Dollar Losses From Elon’s Post

Many investors claimed to have suffered a lot of damage from Elon Musk’s post, for posting this statement the company’s shares went up there, however, for not having guaranteed what Elon promised Tesla’s shares plummeted leaving investors with a very large break.

It wasn’t the only time Musk tried to manipulate stock prices through social media slack. This can be quite dangerous for the entrepreneur, let’s wait for what the judge will decide.