Maybe he did. But a letter of intent isn’t the same as a contract. Yet it warrants the statement “funding secured”.
"No reasonable jury could find that Mr. Musk did not act recklessly given his clear knowledge of the discussions."
"There had been no discussion about what the purchase price would be for a share of stock. Nor had there been any discussion about what percentage of the company the PIF would own or the total amount of money the PIF would contribute."
What we don't know yet is how much damages he will be told to pay.
https://www.reuters.com/business/autos-transportation/court-...