The shareholder lawsuit stems from Musk’s tweets in August 2018 when he said he had sufficient financing to take Tesla private at $420 a share — an announcement that caused heavy volatility in Tesl…
By CHRISTOPHER RUGABER | Associated Press
Instead, in a filing submitted late Friday — less than two weeks before the trial was set to begin on Jan. 17 — Musk’s lawyers argue it should be moved to the federal court in the western district of Texas. That district includes the state capital of Austin, which is where Musk relocated his electric car company, Tesla, in late 2021.
In a victory for the shareholders last spring, Judge Edward Chen ruled that Musk’s tweets were false and reckless. “For the last several months, the local media have saturated this district with biased and negative stories about Mr. Musk,” attorney Alex Spiro wrote in a court filing. Those news items have personally blamed Musk for recent layoffs at Twitter, Spiro wrote, and have charged that the job cuts may have even violated laws.
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