SAN FRANCISCO (AP) \u2014 Elon Musk\u00a0returned to federal court\u00a0Monday in San Francisco to testify in a class action lawsuit filed by Tesla investors alleging he misled them with a tweet.<\/p>\n\n\n\n
The tweet, which resulted in a\u00a0$40 million settlement\u00a0with securities regulators, claimed he had lined up the financing to take Tesla private in a deal that never came close to happening.<\/p>\n\n\n\n
The trial hinges on the question of whether a pair of tweets that Musk posted on Aug. 7, 2018, damaged Tesla shareholders during a 10-day period leading up to a Musk admission that the buyout he had envisioned wasn\u2019t going to happen.<\/p>\n\n\n\n
Musk, who said he \u201chad trouble sleeping last night and unfortunately I am not at my best,\u201d testified that it was important for jurors to know that he \u201cfelt that funding was secured\u201d due to his ownership of \u201cSpaceX stock alone.\u201d<\/p>\n\n\n\n
\u201cJust as I sold stock in Tesla to buy Twitter. … I didn\u2019t want to sell Tesla stock but I did sell Tesla stock,\u201d he said of the stock sale to make up for the lack of funding from other sources for his $44 billion deal to take Twitter private.<\/p>\n\n\n\n
\u201cMy SpaceX shares alone would have meant that funding was secured,\u201d Musk said.<\/p>\n\n\n\n
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