A court filing out Friday suggests a judge ruled that CEO Elon Musk knowingly made false statements when he tweeted about a take-private deal for Tesla in 2018.
This information was revealed in a request the shareholders' lawyers made for a temporary restraining order against Musk to stop him from making further public remarks about aspects of this case, as he did during a widely viewed appearance at theThe request for the temporary restraining order alludes to an earlier ruling by Judge Chen that is currently under seal because it refers to evidence that Musk's team regarded as confidential.
At the TED conference on Thursday, Musk called financial regulators in the SEC's San Francisco office"bastards." Musk also said,"The SEC knew that funding was secured but they pursued an active, public investigation nonetheless at the time. Tesla was in a precarious financial situation. And I was told by the banks that if I did not agree to settle with the SEC that they would, the banks would cease providing working capital and Tesla would go bankrupt immediately. So that's like having a gun to your child's head. I was forced to concede to the SEC unlawfully.
It's not clear why Musk felt he may have been unable to obtain working capital for Tesla, but confident he could muster the billions required to take the company private at the same time.
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