Tesla on Track to Settle Lawsuit Over Elon Musk's Tweets

Tesla, the electric vehicle manufacturer, noted that they have entered into a settlement for the lawsuit filed by investors over CEO Elon Musk's tweets in 2018 about taking the automotive giant private.

Tesla stated that the company will record a settlement for a possible realty in the securities fraud lawsuit filed over Musk's 2018 tweet about turning the carmaker into a private company. The meeting, scheduled to take place in October, comes after the defendants made significant progress in their case against Musk and Tesla ahead of the trial, which begins in January. United States District Judge Edward Chen ruled two months ago that Musk's Twitter posts were misleading. This decision was considered one of the biggest recent gains for investors who blamed Musk for the fluctuation in Tesla share prices and billions of dollars in losses four years ago when Musk's tweets caused confusion in the market. In the court minutes, it was decided that a conference would be held on the Zoom application on October 3 and that the parties should mutually submit a confidentiality agreement until 10 days before the conference. In a separate case in Delaware Chancery Court, the judge allowed the famous billionaire to sue for the $ 44 billion Twitter deal that he canceled and ruled that the first hearing would be held in October.