Musk testifies tweet that led to $44 billion lawsuit "may not have been my wisest"

"Musk believes he can say or do whatever he wants anytime he wants, regardless of the consequences. After getting cold feet on the deal and struggling to sell enough Tesla stock to finance it, he started a public spectacle to trash the company and drive stock price down."

"This could present you with an opportunity to revisit price. It may not be a costless ask, as you will have to be perceived as being willing to risk paying the reverse break fee. However, the threat of walking away may be sufficient to get them to agree to a lower price."

"A later email from Barclays after the tweet said investors were now giving the deal 50/50 odds and the share price would not move higher because they feared more tweets with deal implications."

During a trial, shareholders accused Elon Musk of deliberately using Twitter posts to damage Tesla's stock price and escape his obligation to acquire the company. Bankers advised Musk that threatening to walk away could pressure the company into accepting a lower price. After Musk's tweets, investor confidence dropped to 50/50 odds on the deal. Plaintiffs claim Musk acted recklessly, believing he could do whatever he wanted without consequences. Musk grew frustrated during questioning, citing his demanding workload and accusing lawyers of misleading tactics. The trial includes testimony from his associates, including his family office head, who stated Musk's tweets reflected frustration while work on the deal continued.

Read at Ars Technica