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Funding secured means he has funders who back his bid for going private. A ballpark measure of their capital is enough for Elon to claim funding secured. .....
Funding secured
“That’s a clear factual statement,” said John C. Coffee Jr., a professor at Columbia Law School who specializes in corporate law and securities fraud. “If it’s not fully secure, that’s potentially a very material misrepresentation, and a very straightforward violation of Rule 10b-5” of the securities law — in short, securities fraud.
Did Elon Musk Violate Securities Laws With Tweet About Taking Tesla Private?
Well, I suppose that you are the greater authority in this field of law.