Elon Musk's Twitter antics have landed him more hot water, as Tesla are due to start settlement talks over a 2018 post by its CEO.
The shareholder lawsuit will go into the conference to negotiate a possible end to the securities fraud case over Musk’s tweets about taking the company private.
Musk was stripped of his title as chairman of Tesla while being allowed to remain as CEO following the tweet that said he had "funding secured" from Saudi investors to take the company private.
READ MORE: Elon Musk's biggest scandals of 2022 – Twitter aborted takeover to alleged affair
The Securities and Exchange Commission charged that despite discussions with Saudi investors Musk did not have the funding secured to take Tesla private.
Two months ago US District Judge Edward Chen concluded that Musk was misleading in his Twitter posts.
It was the most recent big win for investors seeking to recover billions of dollars in losses they blame on Tesla’s share price drop four years ago because Musk’s tweets.
A federal judge ordered the settlement conference via Zoom on October 3, adding to an already busy month for Mr Musk.
As part of the settlement, Musk also agreed had to submit any tweet with information that would be material to investors to other executives at Tesla for approval before sending it out.
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He also faces a five-day October trial in Twitter lawsuit seeking to compel him to complete his $44 billion purchase of the social-media company.
Musk had announced that he was pulling the plug on the deal to acquire the social media platform after months of public debating over data and spam bots.
The lawsuit will see his own tweets used against him, including an infamous poo emoji tweet directed at Twitter’s CEO.
He had been trying to buy the company since April, in a process that started off as a takeover but turned hostile after Musk raised questions regarding bots.
However, when he made his withdrawal announcement last week, he did so claiming that Twitter is “in material breach of multiple provisions” of their contract.
Twitter is now suing Musk because, according to its complaint, he “refuses to honour his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests.”
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