The plaintiffs’ lawyer confirmed that the minutes of Musk’s meeting with the Saudis deny his allegations (Getty)
American businessman Elon Musk said he was sure he would get Support of Saudi financiers In 2018 to convert Tesla to a private company, but later retracted their commitment.
And while looking Federal court case In San Francisco on Monday, Musk told investor attorney Nicholas Porritt that on July 31, 2018, he met with representatives of the Public Investment Fund (the Saudi sovereign wealth fund) at the Tesla factory in Fremont, California.
Musk admitted that he did not discuss the acquisition price with representatives of the Saudi fund, but said that they had made it clear that they would do everything in their power to complete the purchase.
“The Public Investment Fund explicitly wanted to take Tesla private,” Musk added, adding that Yasser Al-Rumayyan, the fund’s governor, then reneged on his commitment.
He continued, “I was very upset because he was vocal in his support for taking Tesla private when we met and now he appears to have backed off.” Al-Rumayyan’s lawyers did not immediately respond to a Reuters request for comment.
The investors’ lawyer told the court that the written evidence did not support Musk’s claim that the Saudi fund entrusted him with turning Tesla private, adding that the minutes of the meeting between Musk and the Saudis showed that they wanted to know more about his plan.
Musk defends himself from accusations of defrauding investors, when he posted a tweet on August 7, 2018, in which he said that “funding is secured” to convert Tesla to a private company at a price of $ 420 per share.
Investors say they have lost millions of dollars as a result of Musk’s tweets.
(Reuters)
