Judge rejects Elon Musk’s request to move his upcoming securities fraud trial to Texas
A judge rejected Elon Musk’s request to move his upcoming securities fraud trial out of San Francisco, Bloomberg reports. Musk had argued that the jury pool from the city would be biased against him.
Musk is facing a civil trial next week stemming from a lawsuit filed by Tesla shareholders who accuse the billionaire of making false statements in his tweets from 2018 about taking the electric vehicle company private. The shareholders argue that Musk’s tweets, in which he claimed he had “funding secured” to take the company private, caused wild swings in Tesla’s share price, costing them billions of dollars.
The deal to take Tesla private never materialized, and Musk ultimately lost his chairmanship of the company and was forced to pay a...