IN PHOTOS Northern lights dance across the night sky in southern Ont.
From London, to Mildmay, Collingwood and St. Thomas, here are some highlights of Friday night and Saturday morning's northern lights display.
A California jury has ruled that Elon Musk is not liable for losses experienced by Tesla shareholders following his controversial "funding secured" tweet from 2018.
The unanimous verdict, announced Friday in US District Court, ends a three-week long trial over a class-action shareholder lawsuit regarding the tweet, in which the billionaire said that he was thinking about taking Tesla private for $420 a share and had "funding secured." Those two words resulted in the CEO having to forfeit his position as Tesla's executive chairman and pay millions of dollars in fines and legal fees.
Musk had spoken to executives of the Saudi sovereign wealth fund about the funding he would need to take Tesla private. However, it was anything but "secured."
The plaintiffs — several Tesla shareholders who alleged that they lost significant portions of their investments in the wake of the share price volatility following the tweet — were seeking monetary damages from Musk, Tesla and other Tesla directors in their lawsuit.
However, the jury ruled that plaintiffs failed to prove any of their four claims against Musk and the other defendants.
"Thank goodness, the wisdom of the people has prevailed!" Musk tweeted after the verdict was announced. "I am deeply appreciative of the jury's unanimous finding."
Nicholas Porritt, a lawyer representing the Tesla shareholders, told CNN: "We are disappointed with the verdict and examining next steps."
Tesla shares initially climbed 11% on the day of Musk's original "funding secured" tweet, but they never reached that promised $420 level, reaching a high that day of $387.46. And they soon fell well below their pre-tweet price of $344, hitting $263.24 a month later, as it became clear that the funding was less than secure. That prompted the shareholder suit that is just now reaching trial after more than four years.
A turn from losses to profits about a year after the tweet started Tesla shares on an extraordinary run, gaining 1520% from the day of the tweet to its record high in November 2021. That record close of $409.97 works out to $6,150 a share, when adjusted for the two stock splits since that day. Even with the 70% decline in Tesla shares from that all-time high to Friday's close, shares are still up 384% since the close on the day of the 2018 tweet.
Musk's tweet also prompted a civil suit by the Securities and Exchange Commission, the federal agency charged with protecting investors by requiring executives to tell the truth. It originally sought to strip him of his position as Tesla's CEO. It eventually reached a settlement with Musk in which he and Tesla each agreed to pay $20 million in fines, and Musk gave up his title as chairman of the company but retained the CEO title. It also required that any tweet he sent out with material information about Tesla be reviewed in advance by other company executives.
The lead plaintiff in the shareholder lawsuit, Glen Littleton, testified last month that he lost more than 75% of his investments following Musk's "funding secured" tweet.
"I wanted to ensure my livelihood. This represented a threat to my livelihood," he said of Tesla not, in fact, being taken private for $420 per share.
Musk in his testimony, however, argued that his tweets do not cause Tesla's stock price to move higher or lower.
"The causal relationship is clearly not there simply because of a tweet," Musk said.
Musk also argued that the character constraint of Twitter made it difficult to be as verbose as one might be in a formal financial filing, which are detailed, subject to regulations and vetted by financial disclosure experts.
- Matt McFarland contributed to this report
From London, to Mildmay, Collingwood and St. Thomas, here are some highlights of Friday night and Saturday morning's northern lights display.
For decades, North Bay, Ontario's water supply has harboured chemicals associated with liver and developmental issues, cancer and complications with pregnancy. It's far from the only city with that problem.
The Netherlands' contestant in the Eurovision Song Contest was dramatically expelled from competition hours before Saturday's final of the pan-continental pop competition, which has been rattled by protests over the participation of Israel.
The rolling hills leading to the hamlet of Rosebud are dotted with sprawling farms and cattle pastures -- and a sign sporting a simple message: No Race Track.
Biden wants the 2024 election to be a referendum on Trump's record and plans, but he also wants voters to look favourably on his own policies and actions
Evan Bouchard scored 5:38 into overtime and the Edmonton Oilers bounced back for a 4-3 win over the Vancouver Canucks in the second round of the Stanley Cup playoffs on Friday.
Irresponsibly using a credit card can land you in financial trouble, but personal finance columnist Christopher Liew says when used properly, it can be a powerful wealth-building tool that can help grow your credit profile and create new opportunities.
An evacuation alert was issued for two Wood Buffalo communities Friday night, as crews battled an out-of-control wildfire near Fort McMurray.
A cyclist turned herself in and received a fine after striking a four-year-old girl who was crossing the street to catch a school bus.
A family of fifth generation farmers from Ituna, Sask. are trying to find answers after discovering several strange objects lying on their land.
A Listowel, Ont. man, drafted by the Hamilton Tigercats last week, is also getting looks from the NFL, despite only playing 27 games of football in his life.
A small Ajax dessert shop that recently received a glowing review from celebrity food critic Keith Lee is being forced to move after a zoning complaint was made following the social media influencer’s visit last month.
The Canada Science and Technology Museum is inviting visitors to explore their poop. A new exhibition opens at the Ottawa museum on Friday called, 'Oh Crap! Rethinking human waste.'
The Regina Police Service says it is the first in Saskatchewan and possibly Canada to implement new technology in its detention facility that will offer real-time monitoring of detainees’ vital health metrics.
The stakes have been set for a bet between Vancouver and Edmonton's mayors on who will win Round 2 of the Stanley Cup playoffs.
A grieving mother is hosting a helmet drive in the hopes of protecting children on Manitoba First Nations from a similar tragedy that killed her daughter.
A chicken farmer near Mattawa made an 'eggstraordinary' find Friday morning when she discovered one of her hens laid an egg close to three times the size of an average large chicken egg.
A P.E.I. lighthouse and a New Brunswick river are being honoured in a Canada Post series.