She described him as a "manipulator" .. an American court indicted Elon Musk with fraud

Shareholders in their lawsuit against Tesla Corporation and CEO Elon Musk over alleged securities fraud confirmed that they won part of a crucial ruling in a class action lawsuit last Friday.

Shareholders are suing Tesla over the money they lost after Musk tweeted in 2018 that he was considering making his electric car company private at $420 per share, writing at the time that he had secured financing.

At the time, Tesla's shares were initially suspended, and then the shares experienced wild volatility for weeks after the tweets.

For its part, the Securities and Exchange Commission investigated and accused Musk of stock manipulation.

Tesla and Musk also entered into a revised settlement agreement in 2019 over the accusations, but Musk is trying to end that agreement now.

The compensation from the shareholder class action could amount to billions of dollars that Musk and Tesla will pay those shareholders, according to CNBC.

The shareholders' lawyers said yesterday that Judge Edward M. Chen, who is presiding over the court, had concluded that Musk was a "manipulator" - in other words, he made knowingly false statements about securing the funding when he tweeted.

This information was disclosed in a request by shareholder lawyers for a temporary restraining order against Musk to prevent him from making further public remarks about aspects of the case, as he did during his wide appearance at the TED 2022 conference on April 14.

The temporary restraining order request alludes to an earlier ruling by Judge Chen, which has now been confirmed by pointing to evidence that Musk's team deemed classified.

At a TED conference on Thursday, Musk called the US Securities and Exchange Commission's financial regulators "bastards."

He also said, “The SEC knew the funding was secured, but they continued an active public investigation at that time. Tesla was in an unstable financial position, and the banks told me that if I didn't agree to a settlement with the SEC, the banks would stop providing Working capital and Tesla will go bankrupt immediately. It's like putting a gun to your child's head, you were forced to illegally surrender to the Securities and Exchange Commission."

It is not clear why Musk feels he may not have been able to get working capital for Tesla, but he is confident he can mobilize the billions needed to make the company private at the same time.

Musk is currently the richest person in the world on paper, and is trying to acquire Twitter, his favorite social media platform, and turn it into a private company for about $43 billion.

Musk's lawyer, Alex Spiro, responded, "Nothing will ever change the fact that Elon Musk was considering delisting Tesla from the stock exchange, and it could be all that's left after half a decade, lawyers for random plaintiffs trying to make money and others trying to make money." He prevented this fact from appearing at his expense in accordance with freedom of expression."

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