Musk's legal team argue the move is simply to 'sensationalise' proceedings
Grimes might be dragged into her ex-boyfriend Elon Musk’s lawsuit with Tesla over his now-infamous $420 tweet.
The Securities and Exchange Commission announced that it was charging the Tesla CEO with fraud in September 2017 after Musk tweeted that he was “considering taking Tesla private at $420. Funding secured.”
It has been suggested that the tweet was an inside joke for Grimes’ benefit that made a play on the popular weed term ‘420’.
According to Financial Post, Tesla shareholders are pushing for Grimes – real name Claire Elise Boucher – to provide new evidence related to Musk’s intention with the tweet.
The article also claims that court papers filed by Musk’s legal team yesterday (January 3) argued against this move to involve Grimes.
“It is readily apparent that this is more of an effort to sensationalize these proceedings than a legitimate attempt to preserve evidence,” said attorney Dean Kristy in the court filing.
He continued: “Indeed, every defendant in every securities class action has a spouse, significant other and friends, but that does not justify discovery of them.”
The lawsuit seeks to bar Musk from serving as an officer or a director for a publicly traded company in the future.
The original statement from the SEC claimed Musk had not actually secured funding for a transaction to take Tesla private, and in fact, “he allegedly knew that the potential transaction was uncertain and subject to numerous contingencies.”
The SEC also points out that the proposed $420 share price represented “a substantial premium to [Tesla’s] trading price at the time”.
Meanwhile, Grimes has released new music. She shared new track ‘We Appreciate Power’ late last year – the first single to emerge from her forthcoming fifth album.
NME described the song as, “a Darth Vader boot-stomp of industrial-goth pop-rock with chucka-chucka guitars and searing riffs bumping up against cutesy dreamy bits.”