FILE PHOTO: The logo of Tesla is pictured at a dealership in Chambourcy, near Paris, France, December 15, 2021. REUTERS/Gonzalo Fuentes
(Reuters) -Tesla Inc's board had no obligation to review CEO Elon Musk's 2018 tweets announcing a bid to take the electric car maker private, which investors allege were fraudulent, two independent directors testified at trial on Wednesday.
Musk's Aug. 7, 2018 tweets sent Tesla stock soaring and after they fell back down, shareholders sued, alleging they lost money. But board members James Murdoch and Ira Ehrenpreis each said the tweets did not need to be vetted by the company before Musk sent them because he had done so in his individual capacity.
Already a subscriber? Log in.
Unlock 30% Savings on Ad-Free Access Now!
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
