This thread is to chronicle the investors' lawsuit against Elon Musk concerning the infamous "420 funding secured" tweet. Please don't post Tesla related news or your opinions of the cars, etc. here unless it relates to the court case somehow.
This is the second lawsuit concerning the very same tweet. The first one by the SEC ended in a 20-20 MM fine against Elon and Tesla. In this lawsuit:
"The plaintiffs are investors who are suing Tesla and Musk in a class-action lawsuit, claiming that Musk made false and misleading statements when he tweeted about plans to take the company private at $420 a share. The complaint alleges that the tweet negatively affected people who purchased Tesla stock soon after it was sent, as they falsely believed he had funding secured to take the company private."
https://www.businessinsider.com/cou...grimes-preserve-information-tesla-case-2019-1
The current news is this:
"A court has granted a motion by investors to serve subpoenas to preserve documents to the rapper Azealia Banks and the singer Grimes in a lawsuit against Tesla and Elon Musk, according to new court documents.
On Tuesday, the US District Court of Northern California granted the motion to serve document-preservation subpoenas against Banks and Grimes (whose real name is Claire Boucher) as well as Business Insider, The New York Times, and Gizmodo.
Adam M. Apton of Levi & Korsinsky, the firm representing the investors, told Business Insider he planned to serve all five parties subpoenas to preserve evidence."
This is the second lawsuit concerning the very same tweet. The first one by the SEC ended in a 20-20 MM fine against Elon and Tesla. In this lawsuit:
"The plaintiffs are investors who are suing Tesla and Musk in a class-action lawsuit, claiming that Musk made false and misleading statements when he tweeted about plans to take the company private at $420 a share. The complaint alleges that the tweet negatively affected people who purchased Tesla stock soon after it was sent, as they falsely believed he had funding secured to take the company private."
https://www.businessinsider.com/cou...grimes-preserve-information-tesla-case-2019-1
The current news is this:
"A court has granted a motion by investors to serve subpoenas to preserve documents to the rapper Azealia Banks and the singer Grimes in a lawsuit against Tesla and Elon Musk, according to new court documents.
On Tuesday, the US District Court of Northern California granted the motion to serve document-preservation subpoenas against Banks and Grimes (whose real name is Claire Boucher) as well as Business Insider, The New York Times, and Gizmodo.
Adam M. Apton of Levi & Korsinsky, the firm representing the investors, told Business Insider he planned to serve all five parties subpoenas to preserve evidence."
