International
Elon Musk takes stand in Tesla tweet fraud trial
January 23 | By AFP | Glenn Chapman |
Tesla CEO Elon Musk took the stand in a California fraud trial on Friday, accused of lying in tweets about taking the auto company private, punishing investors.
Musk was called to testify by lawyers for angry investors who accuse him of costing them millions of dollars in 2018 with untrue tweets about having funding secured to buy out shareholders at $420 a share.
The multi-billionaire’s tweets sent the Tesla share price on a rollercoaster ride and Musk was sued by shareholders who say the tycoon acted recklessly in an effort to squeeze investors who had bet against the company.
Musk, who bought Twitter itself in October, downplayed the power of his tweets noting under questioning that he once posted that he thought Tesla share price was too high, and “it went higher, which is counter-intuitive.”
“What I’m trying to say is that the causal relationship is clearly not there simply because of a tweet,” Musk said in a testimony that lasted only thirty minutes and was to be continued on Monday.
The hearing on Friday began with Harvard law and business professor Guhan Subramanian, who was called as an expert witness by the plaintiffs.
He called Musk’s tweeted proposal to take Tesla private as “illusory” and “just wrong” in how it deviated wildly from the way such mega-deals usually take place.
“All I can say is this is just wrong; as a matter of deal process… this isn’t correct,” Subramanian said while being questioned by a defense lawyer about Musk’s tweets.
‘Reckless’ words
Testimonies in the trial opened Wednesday with a lawyer for the upset investors telling jurors Musk lied about having funding in place.
Nicholas Porritt, who represents lead plaintiff Glen Littleton and other Tesla investors, said the tweets cost “regular people” to lose “millions and millions of dollars.”
Called as the first witness, 71-year-old Littleton told jurors he was heavily invested in Tesla in 2018 in a way that banked on the share price climbing to $500 or more.
Littleton testified that he was “pretty shocked” by Musk’s tweet about taking the company private at $420 a share because it threatened almost all the money he had invested in Tesla.
“It was going to pretty much wipe me out,” Littleton said.
Littleton told jurors he scrambled to save what he could of his investments, getting out of most of his positions at a huge loss.
Musk is expected to continue testifying at trial on Monday, when his lawyers will get a chance to refute the accusation that he was being deceitful.
The case revolves around a pair of tweets in which Musk said “funding secured” for a project to buy out the publicly traded electric automaker, then in a second tweet added that “investor support is confirmed.”
Porritt told jurors that Musk had selected the $420 share price in the tweet “as a joke” and that the funding to take Tesla private was never locked in, nor credibly pursued.
In his own opening remarks, Musk attorney Alex Spiro said that even though the tweets may have been a “reckless choice of words”, they were “not fraud, not even close.”
The fraud trial is expected to last three weeks.
International
At least 10 dead and 20 injured in highway crash near Morelia
The accident occurred on the highway connecting Morelia, the capital of Michoacán, with the town of Pátzcuaro, the Morelia police reported in a statement.
“Preliminary information indicates there are around 10 fatalities and nearly 20 people injured. Emergency teams are carrying out extraction efforts and providing medical assistance at the scene,” the department said. It added that traffic on the roadway remains closed while rescue crews continue their work.
So far, authorities have not specified the cause of the crash.
Road accidents are common in Mexico, often caused by excessive speed or poor vehicle maintenance, particularly involving buses or cargo trucks.
In September, a truck carrying nearly 50,000 liters of gas exploded at an intersection in Mexico City, resulting in 32 deaths.
International
Democrats press prince Andrew for testimony as Epstein probe intensifies
Sixteen Democratic lawmakers have signed a letter urging Prince Andrew to participate in a “transcribed interview” with the U.S. House Oversight Committee, which is investigating the Epstein case. Epstein died by suicide in 2019 while jailed and awaiting trial on sex-trafficking charges.
The letter asked Andrew — the younger brother of King Charles III and now referred to as Andrew Mountbatten-Windsor after being stripped of his royal titles due to his association with Epstein — to respond by November 20.
“Andrew Mountbatten-Windsor’s silence in response to the Oversight Committee Democrats’ request for testimony speaks volumes,” said Representatives Robert Garcia and Suhas Subramanyan, both members of the committee, in a statement released on Friday.
“The documents we have reviewed, along with public records and the testimony of Virginia Roberts Giuffre, raise serious questions he must answer, yet he continues to hide.”
Giuffre, a U.S.-Australian citizen who died by suicide in April, wrote in posthumous memoirs that she had been forced into sexual encounters with Andrew on three occasions — the first two when she was 17.
International
President Sheinbaum Hails Fátima Bosch’s Miss Universe Win as a Victory for Women’s Voices
Mexican President Claudia Sheinbaum praised Fátima Bosch on Friday for winning the Miss Universe 2025 title, recognizing her as a symbol of courage for Mexican women and highlighting her stance against an act of injustice during the international pageant.
Bosch, a native of Tabasco, claimed the crown at the competition held in Thailand. Her participation drew significant attention following an incident involving the director of Miss Universe Thailand, Nawat Itsaragrisil, who told her to remain silent for not sharing event-related content on her social media platforms. The remark prompted Bosch to walk out of the room in protest, an action supported by several other contestants.
President Sheinbaum denounced expressions like “you look prettier when you’re quiet,” asserting: “Women look more beautiful when we speak up and participate. And she raised her voice, saying, ‘This is unjust, I don’t agree.’”
Fátima Bosch, 25, became the fourth Mexican woman to win the Miss Universe crown, joining Lupita Jones (1991), Ximena Navarrete (2010), and Andrea Meza (2020).
Bosch triumphed over Thailand’s Veena Praveenar, who placed as first runner-up, and Venezuela’s Stephany Abasaly, who took third place. This year’s pageant featured contestants from 120 countries and territories, including nine mothers, one transgender woman, a genocide survivor, and the first-ever Palestinian contestant in the competition’s history.
At least 10 dead and 20 injured in highway crash near Morelia
Democrats press prince Andrew for testimony as Epstein probe intensifies
President Sheinbaum Hails Fátima Bosch’s Miss Universe Win as a Victory for Women’s Voices
Tec de Monterrey honors one of its students for his contribution to nanotechnology in medicine
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