A Jury in the US has declared Elon Musk not liable over a tweet he published back in 2018 saying that he had secured funding to privatize the company.
According to court documents, the plaintiff was seeking billions in compensation following the tweet from the founder who is well known for openly expressing his opinions.
Immediately after the news, Musk who was not present in court thanked the Jury for what he termed as the wisdom of the people has prevailed.
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“Thank goodness, the wisdom of the people has prevailed,” said Musk
Speaking after the news was Nicholas Porritt the lawyer representing the investors who noted that verdict was disappointing but they will consider the next step.
Immediately after Elon Musk’s tweet, Tesla shares rose by 16%, moves that the second richest person is well known for doing given his regular tweets.
Musk who bought Twitter for $44 billion in October and also owns SpaceX has recently been seen by investors as too busy with his recent acquisition.