International

Elon Musk takes stand in Tesla tweet fraud trial

Photo: Reuters

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.”

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“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.

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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.

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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.

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International

Dominican court postpones hearing in deadly nightclub collapse case

10 reported dead after explosion in Dominican Republic

A Dominican court on Monday postponed until March a preliminary hearing against the owners of a nightclub that collapsed last year, killing more than 200 people.

The roof of the Jet Set nightclub collapsed in the early hours of April 8, 2025, during a concert by popular merengue singer Rubby Pérez, who died along with 235 other people.

Jet Set owner and manager Antonio Espaillat and his sister Maribel, who served as the club’s administrator, were arrested on charges of involuntary manslaughter but were later released on bail after posting approximately $842,500.

Both appeared at the Palace of Justice, where they were met by a small protest from relatives and friends of the victims.

“Thirty years in prison is not enough” and “President, we want JUSTICE,” read signs held by demonstrators.

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The preliminary hearing determines whether there is sufficient evidence to send the case to trial. The court decided to reschedule the hearing for March 16.

“We don’t want money and we’re not demanding anything else, only justice for those who died,” said Secundino Pérez, a 75-year-old shopkeeper who lost 12 friends in the Jet Set tragedy.

“Antonio and his family celebrated Christmas sitting at a table, celebrating their freedom,” said Edgar Gómez, who lost his daughter in the collapse.

The Dominican Republic’s Public Prosecutor’s Office maintains that the defendants “significantly altered” the structure of the nightclub. Prosecutors filed formal charges in November and requested that the case proceed to trial.

The charge of involuntary manslaughter carries a sentence of three months to two years in prison.

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“May your conscience never let you sleep. I lost my son,” a woman shouted through tears before the hearing, while others chanted, “Murderers, murderers, murderers.”

International

Venezuelan opposition leader dedicates Nobel Prize to Trump

U.S. President Donald Trump said last week that he was “eager” to welcome the opposition leader, who left Venezuela clandestinely with U.S. assistance, to receive her Nobel Prize in Oslo.

Machado dedicated her Nobel Prize to Trump, who nevertheless showed a very cautious attitude toward including her in any potential political transition in Venezuela.

The opposition leader said on Monday, after an audience with Pope Leo XIV, that “the defeat of evil is closer” in Venezuela following the U.S. military operation that overthrew and removed President Nicolás Maduro and his wife from the country.

Trump has claimed that he is now in control of the South American nation, stating that the primary objective at this stage is to stabilize the country before considering elections.

Venezuelan oil is Washington’s main objective, Trump added after Maduro’s overthrow.

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International

Police hunt gunmen after fatal shooting in Corsica

A man was shot dead on the French Mediterranean island of Corsica, local media reported. The victim was identified as Alain Orsoni, former president of local football club AC Ajaccio, according to sources close to the investigation cited by French news channel BFMTV.

Orsoni, 71, was killed in the town of Vero, near Ajaccio, the island’s capital, while attending his mother’s funeral.

He was also a former member of the National Liberation Front of Corsica (FLNC), a nationalist organization that has long sought independence for the island, reports said.

BFMTV reported that the gunmen fled the scene and remain at large. Local police have opened an investigation into the shooting.