In court papers filed Friday night, a group of Tesla shareholders said a federal judge recently ruled that Elon Musk made “false and misleading” statements in 2018 when he said he was considering take the company private at $420 a share, reports . Musk is now infamous”tweeted with the United States Securities and Exchange Commission, eventually leading to one with the agency it is now.
According to the documents, U.S. District Court Judge Edward Chen found earlier this month that Musk had “recklessly made these statements knowing that they were untrue.” Investors involved in the class action lawsuit asked the court to stop Musk from continuing his “public campaign to present a contradictory and false account” of the episode. The filing comes the same week Musk shared his version of what happened during a 2022 TED Talk appearance.
“The SEC knew the funding was secured, but nonetheless conducted an active public investigation at the time,” Musk said in the interview. “I was forced to concede to the SEC illegally… Now it makes it look like I lied when in fact I didn’t. I was forced to admit I lied to save Tesla’s life, and that’s the only reason.In the same segment, Musk called officials at the commission’s office in San Francisco “bastards.”
On Saturday, Musk’s attorney dismissed the investors’ claims. “Nothing will ever change the truth that Elon Musk was considering taking Tesla private and could have,” he said. . According to the outlet, damages from the lawsuit could amount to billions of dollars that would have to be paid by Musk and Tesla. The case is currently due to go to trial on May 31.