Elon Musk Says 'Local Negativity' in California Will Prevent a Fair Jury Trial. He Wants to Move His Court Date to This State Instead. Attorneys for the billionaire CEO claim he received extreme backlash following his chaotic Twitter deal.

By Amanda Breen Jan 9, 2023

Twitter owner and SpaceX CEO Elon Musk knows that some people aren't his biggest fans — and he's concerned about what that means for his upcoming jury trial over alleged Tesla stock manipulation.

Citing "local negativity" in California, where Tesla headquarters once resided, attorneys for the electric car manufacturer and Elon Musk are asking a federal judge in San Francisco to move or delay the impending trial from Northern California to Western Texas, CNBC reported.

Musk and several current and former Tesla board members will go before a jury in a shareholder class action that alleges the billionaire businessman manipulated Tesla's stock in 2018 when Musk tweeted he had "funding secured" to take the company private at $420 per share.

Am considering taking Tesla private at $420. Funding secured.
— Elon Musk (@elonmusk) August 7, 2018

Afterward, Tesla shares were erratic for weeks following an initial pause on trading.

Musk later reached a settlement with the Securities and Exchange Commission, which a lawyer for the billionaire subsequently called a "government-imposed muzzle," per NBC News.

The Tesla CEO moved to Texas in 2020 and relocated the electric vehicle company to Austin in 2021.

Attorneys representing Musk and Tesla claim that the CEO has received extremely negative publicity in California due to his October 2022 Twitter takeover, which resulted in the volatile elimination of thousands of employees.

Amanda Breen

Entrepreneur Staff

Senior Features Writer

Amanda Breen is a senior features writer at Entrepreneur.com. She is a graduate of Barnard College and received an MFA in writing at Columbia University, where she was a news fellow for the School of the Arts.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Most Popular

See all

Business News

This 28-Year-Old Entrepreneur With Down Syndrome Runs the World's Largest Sock Company. Here's How He Started It.

The eight-year-old company recently hit a record number of orders.

By Sherin Shibu

Science & Technology

5 Rule-Bending AI Hacks to Make Your Mornings More Productive and Profitable

By 2025, AI will transform productivity by streamlining workflows and cutting costs. Major companies like Microsoft, Google, and OpenAI are leading the way, advancing AI into "Phase 3," where tools act as digital assistants. Discover 5 AI hacks to boost efficiency and redefine your daily routine.

By Ben Angel

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

By Eve Gumpel

Marketing

5 Critical Mistakes to Avoid When Giving a Presentation

Are you tired of enduring dull presentations? Over the years, I have compiled a list of common presentation mistakes and how to avoid them. Here are my top five tips.

By Cynthia Kay

Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

By Amanda Breen

Business News

'It's Extraordinary': This Is the Biggest Bet Google Is Making, According to Its Chief Investment Officer

Google CIO Ruth Porat revealed Google's biggest gamble.