Musk wants the Tesla Inc. shareholder fraud case relocated out of San Francisco. He cited that jurors in the area will have a tooth against him due to Twitter Inc. job losses and “local negativity.”
According to a late-Friday submission from his lawyers, the billionaire who owns Tesla and Twitter suggested having the trial in western Texas. Tesla relocated its headquarters to Austin from northern California a year ago.
The investors who sue Tesla and Musk, Tesla’s CEO, claim that his August 2018 tweets about taking the company private with “funding secured” were “indisputably untrue.” Additionally, they infer it caused them billions of dollars in losses. Saudi Arabia’s sovereign wealth fund has agreed to help Musk acquire Tesla private, Musk has claimed. On January 17, the trial will most likely begin.
Musk Does Not Particularly Favor San Francisco Lately
After converting some space on Twitter’s Market Street premises into makeshift bedrooms, Musk has clashed with the city of San Francisco, which is home to the company. Mayor London Breed has also been chastised by Musk over the fentanyl crisis in the city.
In late October, he purchased Twitter for $44B and became the company’s CEO. Tesla maintains a strong presence in California even after its corporate headquarters relocated to Austin in December 2021. The firm announced this week that it employs 47,000 people in the state in a blog article.
Musk’s lawyers believe Western Texas would provide a more fair setting than northern California. They have some profound reasons backing up this opinion.
Musk is more likely to get a fair trial in the Western District of Texas, according to them. In the Western District of Texas, Musk has not received extensive, ubiquitous, and inflammatory media attention as he has in this district. The chief twit receives far less news coverage from Texas media, let alone a negative one.