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Elon Musk Summons for Fraud Elon Musk Summons for Fraud

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Elon Musk Summons for Fraud

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Elon Musk will face a securities fraud court case over tweets from 2018 in which he discussed the possibility of privatizing Tesla. Jury selection is due to begin today, January 17th.

The story begins on August 7, 2018, when Tesla’s chief executive announced on Twitter that he was considering privatizing Tesla at a price of $420 per share.

Investor Glen Littleton is suing Tesla, Elon Musk, and Tesla board members, alleging that the entrepreneur’s tweets were false and cost investors billions of dollars, triggering price fluctuations in Tesla stocks, options, and bonds.

Elon Musk said he did consider privatizing Tesla and believed he had the backing of Saudi Arabia’s Sovereign Wealth Fund to do so. The deal, which would have cost about $72 billion, never went through.

Elon Musk Summons for Fraud

US District Judge Edward Chen ruled that Elon Musk’s tweets about the company’s privatization were untrue and that he acted recklessly in making them. The jury will have to decide if Musk’s tweets were material to investors and if he knew they weren’t true.

This case is unusual in that securities fraud cases are usually resolved before litigation, such as through a settlement agreement, explained Jill Fish, professor of securities law at the University of Pennsylvania. According to her, the defendants in this case will have a “hard battle” because of the pre-trial decision of the judge about the veracity of Musk’s statements.

Lawyers for Elon Musk, Tesla and other board members did not respond to a request for comment.

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Microsoft has released a major Windows 11 update for all users – installation optional

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Microsoft has released a major Windows 11 update for all

Microsoft has made a major update to the Windows 11 operating system, also known as Moment 5, available to all users as an optional update KB5035942.

Microsoft has released a major Windows 11 update for all users - installation optional

Users can optionally install KB5035942 through Windows Update. Previously, the company allowed enthusiasts to manually activate new features from an update. Moment 5 is now available to everyone directly from Windows Update.

Windows 11 Moment 5 brings quite a lot of innovations. Among them are an improved Copilot AI assistant function with new plugins and skills, improved “Photos” with a smart “eraser”, an improved Clipchamp video editor (possibly removing “awkward pauses”), closer integration with Android smartphones (can now be used in as a webcam), and much more.

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Space meteorologists predicted a new geomagnetic storm: the Sun is approaching maximum activity

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Space meteorologists predicted a new geomagnetic storm the Sun is

Space meteorologists have issued a forecast for this week warning of a possible geomagnetic storm caused by the release of plasma from a solar flare. This could affect radio transmissions on Earth and contribute to the observation of the “northern lights.”

According to an alert issued March 23 by NOAA’s Space Weather Prediction Center in Boulder, Colorado, the public has no reason to be concerned.

Space meteorologists predicted a new geomagnetic storm: the Sun is approaching maximum activity

An image of the Sun captured by the Solar Dynamics Observatory (SDO) on Saturday, March 23, 2024. Space weather forecasters have issued geomagnetic storm watches through Monday, March 25, 2024. Source: NASA via AP

Mainly, solar storms can disrupt high-frequency radio transmissions, such as communications between aircraft and remote towers. Jonathan Lash, a forecaster at the center, noted that many commercial aircraft can use satellite communications as a backup option.

Satellite operators may also have problems tracking their spacecraft, and the power grid may detect induced current in its lines.

“For the general public in high latitudes, with clear skies, this will be a great opportunity to see the ‘northern lights,'” Lash said.

Every 11 years, the Sun’s magnetic field changes and its north and south poles switch places. During this cycle, solar activity also changes and is now approaching its peak, which is called solar maximum.

During solar maximum, geomagnetic storms like the one observed last Sunday can occur on Earth several times a year, according to Lash. During periods of solar minimum, several years may pass between storms.

Last December, the largest solar flare in recent years disrupted radio communications.

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Car News

BYD cuts prices on 100 models to beat Toyota and Volkswagen

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BYD cuts prices on 100 models to beat Toyota and

BYD is going to beat Toyota and Volkswagen by offering modern cars at very low prices. According to Bloomberg, the Chinese automaker has reduced prices on more than 100 of its electric and hybrid models.

For example, BYD’s new generation-changing Seagull hatchback now costs less than $10,000, while the manufacturer’s best-selling electric sedan, the Qin Plus, costs less than $11,000.

BYD announced the beginning of an era called “electricity is cheaper than oil”, when hybrid and pure electric models become as affordable as traditional models with internal combustion engines, or even cheaper.

BYD cuts prices on 100 models to beat Toyota and Volkswagen

In total, BYD has already relaunched more than 70 models with lower prices. According to Bloomberg, only the newest Yangwang supercar worth 233 thousand dollars has not fallen in price so far.

By lowering prices, BYD wants to convince drivers to ditch gasoline cars and switch to electric vehicles and hybrids. This aggressive pricing policy poses a real threat to Toyota, Volkswagen, Nissan and other manufacturers.

Previously, BYD Auto officially announced the production of its 7 millionth new energy vehicle, which turned out to be the Denza N7.

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