Elon Musk testifies in court that he had no intention to deceive investors when he tweeted in 2018 about taking Tesla private at $420 per share.
He is currently on trial for fraud claims related to the tweet, in which he stated that he had “funding secured” for the privatization.
Musk argued that his intention was to inform investors about his interest in taking the company private, instead of having the news leaked to a select few.
He also stated that he had already discussed his interest with the Tesla board and Saudi Arabia’s sovereign wealth fund and feared the information would leak to the media.
The trial will determine if Musk can be held liable for his use of Twitter in relation to the company’s stock price.
