Elon Musk Defeats Tesla Investors’ Bid for New Fraud Trial

Tesla Inc. investors who sued Elon Musk over his 2018 tweets about taking the electric vehicle company private won’t get a new trial, a California federal court ruled.

Class representative Glen Littleton moved for a new trial, arguing Musk’s tweets were material and that the jury received confusing instructions. But the motion was “flawed,” and the jury’s February verdict was supported by substantial evidence with respect to materiality, the US District Court for the Northern District of California said Wednesday.

The court went to “great lengths to illustrate the difference” between falsity and materiality, Judge Edward M. Chen said. Furthermore, ...