The San Francisco jury found musk not liable for all statements and tweets that he made about the funding.
Investors filed the lawsuit after a series of tweets by Musk saying he had enough financing to take Tesla public at $420 per share. Musk attempted to have the trial moved from California to what he thought might be the more friendly confines of Texas, but that motion was denied.
Before the investor lawsuit, Musk settled securities fraud charges with the SEC over similar tweets about taking Tesla private, "without admitting or denying" the allegations, though the company did have to put procedures in place to oversee his communications and pay $40 million in fines.
The volatility in Tesla's stock price caused Musk to lose nearly $200 billion in net worth since November 2021, but gained an astounding $12 billion of net worth in one week when the stock price began to rebound at the start of 2023.