Head of Saudi investment fund subpoenaed in case over Musk's 'funding secured' tweet | CNN Business

  • 📰 cnni
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 59%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Elon Musk’s team has subpoenaed the head of Saudi Arabia’s Public Investment Fund as part of litigation over the Tesla CEO’s 2018 tweet that he was considering taking the car company private and had secured funding to do so.

Tesla\n \n shareholders sued Musk in 2018, alleging that he did not, in fact, have “funding secured” to take the company private at $420 per share, as he had said in a tweet that year, a number that seemingly referenced the unofficial holiday of cannabis enthusiasts. The tweet caused wild swings in Tesla\n \n ’s stock that investors claimed hurt their portfolios.

In the text exchange between the two men, which took place in the wake of the backlash to the “funding secured” tweet, Musk hinted at a conversation they had at Tesla in which al-Rumayyan said he was “definitely interested in taking Tesla private and had wanted to do so since 2016.” In the same text message, Musk added: “You also made it clear that you were the decision-maker, moreover backed strongly by the Crown Prince, who regards this as strategically important at a national level.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 326. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Hmmmmmmmmm

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tom Zhu: China boss is now highest-profile Tesla executive after Elon Musk | CNN BusinessTesla Inc's China chief Tom Zhu has been promoted to take charge of the electric carmaker's US assembly plants as well as sales operations in North America and Europe, according to an internal posting of reporting lines reviewed by Reuters. good. ordered a model y performance in june 2022. in germany. delivery date expected 10/2022. Reality: no car delivered, even no news when this will happen. i try to get out of this contract. elonmusk GigaBerlin. ordered through leasing company instadrive. someone can help? Not sure what to think about this. Definitely interesting. Have yall done a story on the white girl getting HACKED to death with a machete by a POC on New Years day?
Source: cnni - 🏆 326. / 59 Read more »