(MENAFN) Elon Musk, the owner of Tesla, defended himself in a fraud trial on Friday by saying that investors were not supposed to take his tweets as direct commands to action. The issue is related to a tweet he sent in 2018 outlining intentions to turn Tesla into a privately held business.
The billionaire, who also owns SpaceX and acquired Twitter last year, was quoted by various news organizations as saying at a hearing in a San Francisco federal court, "Just because I tweet something does not mean people believe it or will act accordingly." He declared, "I think you can absolutely be truthful but can you be comprehensive? Of course not" in reference to Twitter's character restriction.
Investors are blaming Musk over a deceptive tweet he made five years ago, which they claim cost them money. During August 2018, the entrepreneur tweeted: “Am considering taking Tesla private at USD420 [per share]. Funding secured.” He then followed up with another tweet claiming that “investor support is confirmed.”
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