Elon Musk Says ‘Funding Secured’ Has No Universal Meaning
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Tesla Inc. Chief Executive Officer Elon Musk argued that “funding secured” has no universal meaning as he seeks to throw out an investor lawsuit over a tweet last year in which he said he was considering taking the company private.
Contrary to investors who claim the Aug. 7, 2018, tweet was an act of fraud that cost them hundreds of millions of dollars, Tesla and Musk said Friday in a request to dismiss the case that his actual words -- “Am considering taking Tesla private at $420. Funding secured” -- were neither false or misleading.