Musk concluded three days of testimony.
Asked by the plaintiffs’ attorney Nicholas Porritt whether he had any regret about the harm caused by his tweets, Musk’s first response was to disparage Porritt and his law firm.
It wasn’t the first time that Chen had to stage-manage the petulant billionaire. Several times, Musk attempted to slip into his testimony a mention that “Tesla today is worth 10 times” what it was in 2018, despite an order from the court to refrain from commenting on the company’s present value. He also continued to jab at class action lawsuits and the law firms that bring such cases to court, even though Chen warned him that he was out of line.
Even before Musk took the stand, Judge Chen ruled that the jury should consider Musk’s 2018 tweets to be false. With that assumption, jurors will need to decide whether Musk deceived shareholders with his tweets and caused them to lose money. Quite the opposite, Musk said. “My intention with the tweet was to make sure that all investors were aware of what the board was aware of and what the Saudi Investment Fund was aware of” — which was his plan to take the company private at $420 a share.But in his cross-examination, Porritt grilled Musk over whether he had discussed a specific amount ofor other investors that would be needed to take Tesla private. After a series of disassembling answers, Musk said, “Effectively yes.
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