00:00It's Benzinga, bringing Wall Street to Main Street.
00:03A federal judge ordered Tesla CEO Elon Musk to face a lawsuit over allegations he ran an illegal
00:08$1 million a day election giveaway during the 2024 campaign, according to Reuters.
00:13U.S. District Judge Robert Pittman ruled that plaintiff Jacqueline McCafferty
00:17plausibly alleged Musk and his political action committee, America PIAAC,
00:21misled voters into believing they were entering a legitimate lottery.
00:25The court rejected Musk's argument that no harm was done by collecting voter information,
00:30citing its monetary value to political data brokers.
00:33The ruling comes as Musk reportedly shelved plans to launch an America Party
00:37to avoid alienating Republicans, including Vice President J.D. Vance.
00:42Tesla faces pressure from Trump's rollback of electric vehicle tax credits and fuel economy standards,
00:47even as his administration loosened regulations that could benefit Musk's SpaceX venture.
00:52For all things money, visit Benzinga.com.
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