Elon Musk certainly needs no introduction. He might be the wealthiest man in the world, but he is not without his fair share of controversies. Musk is set to appear for a Tesla shareholder trial in San Francisco but believes he will not get a fair trial anywhere in California.
Elon Musk recently asked a federal judge to move a shareholder lawsuit trial out of San Francisco. He claimed that hostile local media coverage has predisposed potential jurors against him. Instead, Musk’s lawyers argue in a late Friday filing that the trial should be shifted to the federal court in the western district of Texas.
Elon Musk’s filing comes less than two weeks before the trial was scheduled to begin on Jan. 17. This district includes the state capital of Austin where Musk relocated his electric car company, Tesla, in late 2021. The shareholder action originates from Musk’s tweets in August 2018, when he stated that he had enough funding to take Tesla private at $420 per share – an announcement that created significant volatility in Tesla’s share price.
Last April, Judge Edward Chen ruled in favor of the shareholders, ruling that Musk’s comments were misleading and reckless. If relocating the trial is not possible, Musk’s lawyers want it postponed until the unfavorable publicity surrounding the billionaire’s purchase of Twitter has subsided.
For the last several months, the local media have saturated this district with biased and negative stories about Mr. Musk.
In a court filing, attorney Alex Spiro stated that those news stories have individually blamed Musk for recent layoffs at Twitter and have argued that the employment cuts may have breached regulations. The shareholders’ lawyers emphasized the request’s lateness, adding, “Musk’s concerns are unfounded and his motion is meritless.”
According to Musk’s attorneys, Twitter has laid off around 1,000 people in the San Francisco area since he purchased the company in late October. According to the lawsuit, Musk has also been chastised by San Francisco’s mayor and other local officials for the job losses. Keep an eye on Thirsty for more.
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