Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

admin
Pinned February 15, 2023

<> Embed

@  Email

Report

Uploaded by user
Court rejects Elon Musk’s request to move Tesla shareholder trial out of San Francisco
<> Embed @  Email Report

Court rejects Elon Musk’s request to move Tesla shareholder trial out of San Francisco

Elon Musk asks court to move Tesla shareholder trial to Texas over potential juror bias

 
Igor Bonifacic
Igor Bonifacic

Elon Musk has asked a federal judge to move his upcoming Tesla shareholder trial out of San Francisco. Per the Associated Press, Alex Spiro, the billionaire’s personal lawyer, filed the request late Friday, less than two weeks before the trial is scheduled to kick off on January 17th. Musk’s legal team argues “a substantial portion” of the potential jury pool in San Francisco is likely to hold a bias against Musk due to recent media coverage criticizing his actions at Twitter and the seemingly never-ending layoffs at the company. Musk has asked to move the trial to Texas, which has been home to Tesla headquarters since late 2021.

The class action lawsuit involves “false and misleading” statements Musk made in 2018 when he said he was considering taking Tesla private at $420 per share. Musk’s now-infamous “funding secured” tweet landed the billionaire in trouble with the US Securities and Exchange Commission, eventually leading to a $40 million settlement with the agency. The shareholders involved in the suit won an early victory last spring when federal judge Edward Chen concluded that Musk had “recklessly made the statements with knowledge as to their falsity.” The upcoming trial will determine whether Musk’s tweet affected the automaker’s stock price and if he should be held accountable for potential damages.

Court rejects Elon Musk’s request to move Tesla shareholder trial out of San Francisco | DeviceDaily.com

“Musk’s concerns are unfounded and his motion is meritless,” Nicholas Porritt, one of the lawyers representing Tesla shareholders, told the Associated Press. “The Northern District of California is the proper venue for this lawsuit and where it has been actively litigated for over four years.” On Saturday, Judge Chen told the two sides he would hear Musk’s request on January 13th.

Engadget is a web magazine with obsessive daily coverage of everything new in gadgets and consumer electronics   

(18)