Musk ‘lied’ when he tweeted about Tesla takeover, stakeholders’ attorney argues

Tesla investor seeks billions' in damages on behalf of those who traded stock after Musk posted plan to take company private

Elon Musk could end up taking the stand as early as Friday in the ongoing San Francisco trial alleging that he deceptively drove up the price of Tesla Motors' stock by tweeting about a plan to take the carmaker private, which never came to pass.

As arguments began on Wednesday, the attorney for a group of shareholders charged that Elon Musk lied" when he tweeted in 2018 that he had secured" funding to take Tesla private. The case seeks to hold the firm's CEO responsible for billions" investors say they lost after the claim drove up the share price.