After winning in court, billionaire Musk is poised to “double down” on his tweeting

After winning in court, billionaire Musk is poised to "double down" on his tweeting
By Jody Godoy
 and Jonathan Stempel

On January 27, 2023, Tesla CEO Elon Musk and his security detail leave the company’s regional headquarters in Washington, United States. Jonathan Ernst for Reuters

Reuters, February 3 – After a jury exonerated the billionaire CEO of Tesla Inc (TSLA.O) of his claim that he had “funding secured” to take his electric car firm private, Elon Musk may feel even more confident in using Twitter.

The second-richest person in the world was found not guilty by a San Francisco jury in about two hours for allegedly tweeting false information about a potential Tesla acquisition in August 2018.

After the decision, Musk will probably “double down” on his communication strategies, according to Minor Myers, a professor of business law at the University of Connecticut.

This will just give Trump more freedom to do as he pleases, according to Myers.

Musk eventually gave up trying to take Tesla private, but he admitted to the jury early on in the three-week trial that he had actually believed what he had written in his tweets.

Associate professor Karen Woody of the Washington and Lee University School of Law expressed shock at the decision, saying she believed the case against Musk was “rock-solid.”
She remarked, “He tested the limits and prevailed. “I anticipate Elon will write whatever he pleases,”

On Twitter, which he acquired in October for $44 billion, Musk personally expressed his gratitude to the jury.

Thank heavens, the people’s wisdom has won out, he wrote.

Musk was sued by Tesla stockholders who sought billions of dollars in compensation.

With his direct tweeting approach, Musk has gained popularity and improved the reputation of Tesla.

With the help of his attorney, Alex Spiro, he fought back against claims that he had not been truthful, arguing to the jury that the “funding secured” tweet was just technically incorrect.

Who gives a damn about poor word choice? During the final arguments, Spiro said.
The tweets caused Musk and Tesla to enter into a consent agreement, which Musk has unsuccessfully tried to lift, and pay $40 million to settle SEC civil charges.

Adam Pritchard, a law professor at the University of Michigan, stated that “he doesn’t want to play by SEC rules as the SEC understands them, and the SEC doesn’t want to be portrayed as backing down.” “I anticipate that they will still experience their challenges.”

Nevertheless, a lot of observers claimed that Musk, who has more than 22,000 tweets and over 128 million Twitter followers, has no need to slow down at this point.
According to Kim Forrest, chief investment officer of Bokeh Capital Partners, “many people would have dialled back tweeting when confronted with a litigation of this nature.” “But the Twitter contract wasn’t like that, was it?

Musk appears to follow his own set of rules, according to Forrest.

Nivedita Balu contributed additional reporting, Peter Henderson wrote the article, and Leslie Adle edited it.
By Jody Godoy
 and Jonathan Stempel

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