Monday, September 26, 2022

Azealia Banks To Be Subpoenaed in Elon Musk’s ‘$420 Tesla Tweet’ Lawsuit

Grimes, Azealia Banks, Elon Musk

*Singer Grimes and rapper Azealia Banks will reportedly be subpoenaed in the Elon Musk lawsuit over the fiasco he caused when he tweeted a weed joke about taking Tesla private at $420 per share.

Both are now ordered to preserve any texts/DM’s they have related to the case. As Business Insider reports, according to new court papers issued January 15, investors have been permitted to summon Banks and Grimes to testify in the case. Adam M. Apton of Levi & Korsinsky, the firm representing the investors, revealed to BI his plans to serve subpoenas to both women.

In August 2018, the Tesla co-founder and CEO tweeted that he was “considering taking Tesla private at $420. Funding secured.”

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Azealia Banks, Elon Musk

Per nme.com:

While Musk’s legal team claims that the tweet was an in-joke with his then-girlfriend Grimes (real name Clare Boucher) as a nod to ‘4.20’ weed culture, the Securities and Exchange Commission (SSEC) argued that it amounted to fraud based on “a series of false and misleading tweets about a potential transaction to take Tesla private.”

The plaintiffs – the investors suing Tesla and Musk in a class-action lawsuit – allege that the tweet negatively affected people who purchased Tesla stock soon after it was posted because they falsely believed Musk had funding secured to take the company private.

Levi & Korsinsky argue that messages posted on social media and shared via text message are “highly susceptible to deletion.”

Banks is involved in the case because she posted on social media that she was staying at Musk’s Los Angeles estate soon after he posted the tweet.

At the time, she alleged he had been tripping on acid when he sent the tweet and Grimes was busy consoling him while he dealt with the fallout from the post, vulture.com reports. Banks later said she overheard Musk on the phone “scrounging for investors” to find funding to take Tesla private.

The outspoken rap star also shared messages on social media between her and Grimes in which the singer bragged about turning Musk on to weed, and how he’s “super entertained by 420” and set the price of his stock at 420 “for a laugh.”

Ny MaGee
Ny MaGee is an entertainment reporter with over 15 years of experience working in the film industry in areas including production and post-production, marketing, distribution, and acquisitions. She has worked for legendary film producer Roger Corman, Quentin Tarantino's production team at Miramax, the late Larry Flynt, MTV/ VH1, Hallmark Channel, Paramount, Jim Henson Co., Parade Magazine, and various LA-based companies representing above-the-line talent.

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