(Bloomberg) — Elon Musk says his 2018 tweet about plans to take Tesla Inc. private was “entirely truthful” and that investors who claim the missive was a fraud are wrong.
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Lawyers for the billionaire chief executive officer of the electric-car maker said in a court filing Tuesday that Saudi Arabia’s sovereign wealth fund had indeed agreed to support his attempt to take the company private.
“Elon Musk’s August 7, 2018 tweet informing the public that he was considering taking Tesla private was entirely truthful,” according to the heavily redacted filing by attorney Alex Spiro. “Mr. Musk was considering taking Tesla private at $420 a share. Funding was secured. There was investor support.”
The tweet roiled the company’s shares and led the U.S. Securities and Exchange Commission to sue Musk for fraud. Musk and Tesla settled with the agency, agreeing…
