A nine-person jury selected on Tuesday to hear whether Tesla’s CEO Elon Musk defrauded investors by claiming in 2018 tweets that he had secured financing to take the electric automaker private. In the case of Tesla, Musk’s tweets fueled a stock price rally that abruptly ended a week later when it became clear that Musk did not have the funding for a buyout after all. Investors then sued him, claiming that if he hadn’t dangled the prospect of buying the company for $420 per share, Tesla shares would not have swung so dramatically in value. Despite making significant changes at Twitter, Musk remains CEO of Tesla and derives the majority of his wealth and fame from the company.
Musk claimed in a tweet on July 7, 2018, that he had lined up financing to pay for a $72 billion buyout of Tesla, which he then amplified with a follow-up statement that made a deal appear imminent.
But the buyout never happened, and Musk will now have to explain his actions in a federal court in San Francisco under oath. The class-action lawsuit was filed in August 2018 on behalf of investors who owned Tesla stock for a 10-day period. The outcome of the trial could hinge on the jury’s interpretation of Musk’s motivation for the tweets, which U.S. District Judge Edward Chen has already decided were false.
On Friday, the judge rejected Musk’s request to transfer the trial to a federal court in Texas, where Tesla moved its headquarters in 2021. Musk claimed that negative coverage of his Twitter purchase poisoned the jury pool in San Francisco, Bay Area.
The difficulty of finding jurors who do not have strong feelings about Musk became clear during Tuesday’s laborious selection process.
The judge at one point raised a red flag for several potential jurors who had shown serious misgivings or enthusiasm for Musk in pre-trial questionnaires. To lessen the possibility of swaying the verdicts of the other jurors in the courtroom, seven jurors were questioned privately and separately from the other members of the jury pool.
After Musk abandoned the idea of a Tesla takeover, the company overcame a production problem, resulting in a rapid increase in car sales that caused its stock to skyrocket, making Musk the world’s richest person until he bought Twitter. Musk fell from first place on the wealth list following a stock market backlash over his handling of Twitter.
Given that the witness list includes some of Tesla’s current and former top executives and board members, including luminaries such as Oracle co-founder Larry Ellison and James Murdoch, the son of media mogul Rupert Murdoch, the trial is likely to provide insights into Musk’s management style.
The drama could shed light on Musk’s relationship with his brother, Kimbal, who is also named as a potential witness.
A decade after Kyoto University biologist Shinya Yamanaka was awarded a shared Nobel Prize for discovering a cocktail of proteins that reprogram adult cells into versatile stem cells, two teams argue that the proteins can turn back the clock for entire organisms, perhaps one day humans, by reprogramming adult cells into versatile stem cells.
A nine-person jury was seated Tuesday to hear whether Tesla CEO Elon Musk defrauded investors by claiming in 2018 tweets that he had secured financing to take the electric automaker private. In the case of Tesla, Musk’s tweets fueled a stock price rally that abruptly ended a week later when it became clear that Musk did not have the funding for a buyout after all.
Tômtex- a company owned by a Vietnamese turns seafood shells and coffee grounds into garment leather
Tômtex, a flexible bio-material created by Vietnamese designer Uyen Tran from seafood waste, is a substitute to leather that can be embossed with a variety of designs. The word “Tôm” in its name, which in Vietnamese means “shrimp,” alludes to the leftover food that is combined with coffee grounds to make the textile.
According to reports, Vall-E, a new language model from Microsoft, can mimic any voice using only a three-second sample
Shopee Express won The Best Delivery Application award at the recent Vnexpress Newspaper’s Tech Awards 2022, beating out other nominees like Giao Hang Nhanh, Giao Hang Tiet Kiem, Lazada Logistics, and Ninja Van.
The company that owns Uniqlo, Fast Retailing Co, announced on Wednesday that it would increase yearly pay for full-time workers in Japan by up to 40% in an effort to retain and inspire personnel as the nation deals with the fastest-pacing inflation in decades.
Goldman Sachs has just published its “Global Economics Paper: The Path to 2075 — Slower Global Growth, But Convergence Remains Intact” which reveals the organization’s projections on the global economy’s major themes and EM and DM growth to 2075.
The effects that ChatGPT has had on us seem to be continuing to grow and develop in more intriguing ways every day. Tarry Singh, CEO of Deepkapha AI Lab and an AI researcher, recently shared his findings on the several apps that used ChatGPT to simplify our lives.
The Tesla and Twitter CEO lost so much of his fortune in the last year that Guinness World Records recognized him the person with the “largest loss of personal fortune in history.
Son Doong Cave in Vietnam, known as one of the largest caves in the world and for its unique beauty, has been selected as one of the most incredible caves in the world by The Travel a Canadian Magazine-.
-
Cultural differences between the East and the West
-
Vietnam received recognition in the 29th World Travel Awards in numerous categories
-
Vietnamese dishes that fascinate foreigners
-
First NFT vending machine in the world is now operational in New York
-
The LEGO Group today began construction on a new $1 billion factory in Binh Duong, Vietnam
-
19 DeFi Startups To Watch

Google followed Microsoft’s announcement of a 10000 employee layoff with a 12000 employee layoff

Casio’s stock price plummeted after announcing the brand’s partnership with Gérard Pique

Google followed Microsoft’s announcement of a 10000 employee layoff with a 12000 employee layoff

Two research teams reverse the signs of aging in mice, raising the hope for similar results in humans.

Most popular Christmas sweets in the world

American Thanksgiving traditions and festivities

Son Doong Cave in Vietnam was selected by The Travel as one of the Top 10 Most Incredible Caves in the World

Things you should know when visiting Sapa, Vietnam

Vietnam’s Tech Awards 2022: Shopee Express won The Best Delivery App award while Lazada was recognized as The Best E-commerce Platform in 2022

Uniqlo owner increases pay in Japan up to 40%

Talks with Leaders, Ep8: 1st AI Doctor Assistant in Vietnam provides 90+% correct diagnosis within 5s

Talks with Leaders, Special episode: Blockchain meets Metaverse, featuring business leaders, investors, tech experts and global influencers

This innovative AI can imitate your voice of any tones and emotions using just three seconds of your audio.

Google followed Microsoft’s announcement of a 10000 employee layoff with a 12000 employee layoff

Nike has unveiled “.Swoosh”, a new web3 platform to sell NFT-based products and virtual clothing

Polygon claims 2022 a “Breakout Year” and predicts major trends for 2023

The crypto lender Genesis Global Capital is in danger of going bankrupt. The crypto market is waiting in fear for another dump.

Son Doong Cave in Vietnam was selected by The Travel as one of the Top 10 Most Incredible Caves in the World

Tômtex- a company owned by a Vietnamese turns seafood shells and coffee grounds into garment leather

Estée Lauder- the story and philosophy behind the success of a leading beauty brand

Is OEM advertising the next disruptive solution that helps businesses win customers?

Estée Lauder- the story and philosophy behind the success of a leading beauty brand

Most popular Christmas sweets in the world

American Thanksgiving traditions and festivities

Vietnam’s Tech Awards 2022: Shopee Express won The Best Delivery App award while Lazada was recognized as The Best E-commerce Platform in 2022

Uniqlo owner increases pay in Japan up to 40%
- Google followed Microsoft’s announcement of a 10000 employee layoff with a 12000 employee layoff - January 21, 2023
- Casio’s stock price plummeted after announcing the brand’s partnership with Gérard Pique - January 19, 2023
- Two research teams reverse the signs of aging in mice, raising the hope for similar results in humans. - January 19, 2023