Attorneys for Tesla and Elon Musk are asking a federal judge in San Francisco to move or delay. The upcoming trial from Northern California to . Western Texas. Saying they can’t find impartial judges and citing “local negativity” toward Musk.
Musk, and other current and former . Tesla board members. His electric vehicle company private for $420 per share.
Tesla stock trading was closed. Then shares were volatile for several weeks following the tweet.
. The Tesla and SpaceX CEO moved his house to Texas in 2020. And his electric vehicle company moved its headquarters to Austin in 2021.
In 2022, Northern California Senior District Judge Edward M. Chen. Who is overseeing the trial, ruled. That Musk’s statements in 2018 were false and that he tweeted them.
The upcoming trial and jury will decide whether Musk’s now-infamous tweets matter to. Shareholders, if and how they affect Tesla’s share price, and whether the company or. Its directors should be held liable and awarded damages.
In a motion to transfer the venue, attorneys representing Tesla and Musk argued. That the CEO gained extensive and negative publicity in California after taking over. The San Francisco-based social media company Twitter in October 2022.
Musk appointed himself CEO of Twitter and cut. Thousands of employees in a series of chaotic layoffs and layoffs since the deal closed.
At a recent public appearance in San Francisco. Musk was booed after comedian Dave Chappelle invited him on stage.
Alex Spiro, a partner at Quinn Emanuel Urquhart & Sullivan. Who has represented Musk in several court matters. Argued in the latest filing: “A significant part of the jury pool in. This district likely has a personal and material bias against Mr. Musk. The results of recent layoffs at one of his companies. amplified and reinforced by. The negative and inflammatory local publicity surrounding the incident.”
He said there have been regular protests and picketing activity in front of Musk’s office in . San Francisco, adding that some are “supported and encouraged by local political figures.”
Musk and his attorneys before argued . That his statements about a potential take-private deal for Tesla in 2018 did not violate the law.
Tesla’s CEO has repeatedly claimed . He struck a handshake deal with investors from Saudi Arabia’s Public Investment. Fund to take Tesla private for $420 per share. Saudi PIF investors did not agree to finance. The Tesla deal.
Court filings this month in the securities class action show that Musk’s attorneys. Have subpoenaed four people. Who help run the Saudi public investment fund. Including Nayef al-Mogren, Saad al-Jarboa, Turki Alnowais and Yasir al-Rumayian. To testify in the trial.