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.
Central America
Mexico and Guatemala launch joint security operation after Agua Zarca border attack
The Government of Mexico announced on Tuesday that it has strengthened coordination with Guatemala following an armed confrontation in the community of Agua Zarca, in Guatemala’s Huehuetenango department, where a soldier was wounded in an attack attributed to organized-crime groups operating on both sides of the border.
The Secretary of Security and Citizen Protection, Omar García Harfuch, confirmed that Mexico is exchanging information with Guatemalan authorities and that Mexican Army units have been deployed along the border to reinforce surveillance and assist in reconnaissance operations.
The attack, Guatemala’s Defense Ministry stated, reflects the “criminal dynamics” dominating that border region, where different groups compete for drug and arms trafficking routes.
According to Guatemala’s Defense Ministry, the clash left a soldier wounded in the leg after suspected criminals crossed from Mexico and opened fire. The wounded soldier is reportedly in stable condition. Authorities also seized high-caliber weapons, explosives, tactical gear and drones, which were handed over for forensic analysis.
Mexican Defense Secretary General Ricardo Trevilla Trejo announced that a coordinated plan of operations will be launched involving both Mexican and Guatemalan forces along the border to counter these criminal networks.
Harfuch emphasized that the violence is not isolated but symptomatic of the ongoing struggle between criminal organizations for territorial control, and reiterated Mexico’s commitment to bilateral security cooperation and its intention to strengthen institutional presence in vulnerable border zones.
International
Zelensky meets Pope Leo XIV as review of U.S. peace plan continues
Ukrainian President Volodymyr Zelensky met on Tuesday with Pope Leo XIV in Italy, after pledging to deliver a response to the United States regarding the proposed peace plan aimed at ending the war with Russia.
The meeting with the pontiff took place at the papal residence in Castel Gandolfo, near Rome, where Leo XIV “reiterated the need to continue dialogue and renewed his urgent hope that the ongoing diplomatic initiatives may lead to a just and lasting peace,” the Vatican said in a statement.
His visit to Italy follows Monday’s meetings with European leaders in London and Brussels, amid pressure from U.S. President Donald Trump to agree to a peace plan that Zelensky said he is still reviewing.
According to Zelensky, the plan presented by Washington—originally consisting of 28 points—was reduced to 20 after discussions between Ukrainian and U.S. representatives over the weekend. “We are going to work on those 20 points. We are not completely satisfied with the proposals from our partners,” Zelensky said during an online press conference on Monday.
International
Japan lifts tsunami alert after strong 7.6-magnitude earthquake hits northern coast
A powerful 7.6-magnitude earthquake struck Japan’s northern coast on Monday, triggering several tsunami waves of up to 70 centimeters, authorities said. The tsunami alert was lifted in the early hours of Tuesday.
According to the U.S. Geological Survey (USGS), the quake occurred at 11:15 p.m. local time (14:15 GMT) off the coast of Misawa, at a depth of 53 kilometers. Japan’s Meteorological Agency (JMA) immediately issued a tsunami warning. The first wave reached a port in Aomori Prefecture at 11:43 p.m. (14:43 GMT), followed by others measuring up to 70 centimeters.
Public broadcaster NHK reported that an employee at a hotel in the city of Hachinohe confirmed that several people were injured. Live footage showed shattered glass scattered across roads, while many residents evacuated to the city hall seeking shelter.
The strong tremor was also felt in Sapporo, where emergency alerts were sent to residents’ mobile phones. A reporter in Hokkaido described a horizontal shaking that lasted around 30 seconds, making it difficult to stay standing.
Before the alert was lifted, the JMA had warned of the possibility of tsunami waves up to three meters high along Japan’s Pacific coast. Government spokesperson Minoru Kihara urged residents to remain in safe areas until the warning was officially lifted.
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