Elon Musk gets serious about 420 at securities fraud trial - The Verge

Musk posted the ill-fated tweet on August 7th, 2018, based on what he argued was a “firm commitment” from Saudi Arabia’s Public Investment Fund (PIF) to take Tesla private.

But Porritt pointed out that there were no signed documents with the Saudis, nothing more than a handshake really, and that Musk posted the tweet without consulting his own board and without considering how it could negatively affect Tesla’s shareholders.

The trial hinges on whether the jury thinks Musk should have to pay out potentially billions of dollars in damages to shareholders for the money they lost as a result of his tweets.

Porritt said the plaintiff’s team did send court processors to Saudi Arabia, but Judge Chen quickly shut down the brawl.

“So you would expect less documentation for a multibillion-dollar taking private transaction of a public company than for buying a house?” Porritt responded.

Musk was also cross-examined by his own attorney, Alex Spiro, who sought to portray his client as a scrappy immigrant who pulled himself up by his own bootstraps to become one of the most successful businesspeople in the world.