Elon Musk proved once again that he’s difficult to beat in court. On Friday, a federal jury in San Francisco took just two hours to clear the Tesla Inc. chief executive officer of claims by investors that he defrauded them when he tweeted 4 1/2 years ago that he was considering taking the company private and had “funding secured” to make the deal happen.
A 243,000-person class-action lawsuit to recoup investor losses in Bitcoin Satoshi Vision pits an august group of UK lawmakers, financed by an Antigua-based company, against some of crypto’s most powerful players. The alliance of establishment figures with colorful crypto entrepreneurs shows how just as the boom days of digital currency brought together unlikely casts of characters looking to get rich quick, class-action lawsuits could now serve the same purpose for investors seeking to head off large losses.
In Case You Missed It
The Camp Lejeune litigation is the latest to be turbocharged by a mass tort marketing industry that has evolved in recent years from the door-knocking of Erin Brockovich types into a high-tech, targeted operation on social media and TV. More than $145 million had been spent on television and social media advertising by year’s end—a figure predict could easily double, in part because as many as 500,000 veterans or their relatives could be eligible to file a claim, and because Congress has already authorized a payout of more than $6 billion.
The hidden-camera recordings videos of Kyle Roche were posted anonymously in August. Since then, he’s lost his role as a lead attorney in potentially law-defining cases, exited the firm he founded and retreated from public view. How it happened offers a window into what can be the cutthroat nature of a fledgling trillion-dollar industry.