Business and Technology
Musk, Tesla Face 2023 in Court
In January, Elon Musk and Tesla Inc are set to face a jury in a shareholder class action claiming that Musk fraudulently inflated Tesla stock in 2018 by falsely tweeting that he was considering taking the electric vehicle company private. Musk and Tesla have said the statements did not violate the law.
The lawsuit in San Francisco federal court seeks unspecified damages from Musk, Tesla and its directors on behalf of investors who bought or sold Tesla stock in the days after Musk's announcement on Twitter.
U.S. District Judge Edward Chen, who is overseeing the trial, has ruled that those statements were false and that Musk made them recklessly. At trial, the jury will determine whether the statements mattered to investors and how they affected Tesla stock.
Trials are a rarity in shareholder class actions, with fewer than 1% being tried to verdict between 1997 and 2018, according to securities litigation consulting firm Cornerstone Research.
Musk, meanwhile, has unloaded quantities of Tesla stock to help finance his purchase of social media platform Twitter.
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Restaurant with Robot Services Causes Excitement in Nairobi
In Nairobi, a new restaurant is generating business and buzz – not just because of the food, but because of the staff. Robots serving dishes is the main attraction for diners who flock to the Robot Café. Juma Majanga reports from Nairobi, Kenya.