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

Young Spanish Woman Receives Euthanasia After Legal Battle, Sparking Debate

A 25-year-old Spanish woman, Noelia Castillo, received euthanasia on Thursday following a prolonged legal dispute with her father.

She passed away at a care center in Sant Pere de Ribes, about 40 kilometers from Barcelona, where she had been living for some time, according to Spanish media reports.

In an interview broadcast a day earlier on Antena 3, Castillo expressed her exhaustion after enduring prolonged suffering. She indicated that her decision was influenced by a combination of personal circumstances and health-related challenges, including family conflicts and a condition of paraplegia following a previous incident that left her with lasting physical consequences.

Spain legalized euthanasia in 2021, becoming one of the few countries that allow patients under strict conditions to seek medical assistance to end their lives in order to avoid what the law defines as unbearable suffering.

The case has reignited debate in Spain over the ethical, legal, and family dimensions surrounding euthanasia, as well as the broader issue of support for individuals in vulnerable situations.

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International

Over 300 U.S. Troops Wounded Since Start of Iran Conflict, CENTCOM Says

More than 300 U.S. service members have been injured since the start of the conflict with Iran on February 28, the United States Central Command confirmed on Friday.

“Since the beginning of Operation Epic Fury, approximately 303 U.S. service members have been wounded. The vast majority of these injuries are minor, and 273 troops have already returned to duty,” said U.S. Navy Captain Tim Hawkins.

A U.S. official, speaking on condition of anonymity to AFP, indicated that 10 American troops remain seriously injured.

According to the latest figures, an additional 13 U.S. service members have been killed since the conflict began, including seven in the Gulf region and six in Iraq.

Meanwhile, Iran’s armed forces warned on Friday that hotels hosting U.S. troops in the region could be considered legitimate military targets.

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“When U.S. forces enter a hotel, from our perspective that hotel becomes American,” said armed forces spokesperson Abolfazl Shekarchi in remarks broadcast on state television.

International

Iran rejects negotiations as tensions escalate with United States

Iran has no intention of entering negotiations and will continue to resist, Foreign Minister Abbas Araghchi said Wednesday night, dismissing recent statements by U.S. President Donald Trump about possible talks.

Speaking to state television, Araghchi argued that Washington’s call for negotiations reflects a position of weakness. He added that the Islamic Republic seeks to end the war on its own terms, ensuring that such a conflict does not recur in the future.

Meanwhile, the White House issued a stark warning, stating that Trump would “unleash hell” on Iran if it refuses to accept a deal to end the conflict. Despite Tehran’s rejection, U.S. officials maintained that discussions remain ongoing.

White House spokesperson Karoline Leavitt reinforced the administration’s position, warning that failure to acknowledge what she described as Iran’s military defeat would result in even stronger action from Washington.

The increasingly aggressive rhetoric from both sides has diminished hopes for a near-term de-escalation in the conflict, which began following U.S. and Israeli strikes against Iran on February 28.

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As tensions continue to rise, the prospect of a diplomatic resolution remains uncertain amid conflicting narratives and escalating threats from both governments.