Musk found not guilty of fraud over Tesla tweet

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4 minutes ago

Tesla founder Elon Musk has been cleared of wrongdoing for a tweet in which he said he had "funding secured" to take the electric carmaker private.

Mr Musk faced a class-action lawsuit filed on behalf of Tesla shareholders who argued he misled them with the tweet in August 2018.

If the San Francisco jury had found him liable he could have been ordered to pay billions of dollars in damages.

The proposed $72bn (£60bn) buyout never materialised.

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