A jury decided on Friday Tesla Inc TSLA CEO Elon Musk shall not be liable for the losses incurred by Tesla shareholders after its “Funding secured” tweet from 2018.

The verdict, delivered by a nine-member Northern California jury, came after two hours of deliberation after a three-week trial, Reuters reports.

Following the ruling, Tesla shares rose 1.4% in after-hours trading on Friday.

Investors are demanding billions of dollars in damages for their losses after Musk reported on Tesla’s $420 privatization per share on Twitter.

During the hearing, Musk’s attorney Alex Spiro said his “funding secured” tweet was “technically inaccurate,” but that investors only cared that Musk was considering an acquisition.

“The whole case is based on poor choice of words. Who cares about bad choice of words? Just because it’s a bad tweet doesn’t make it a scam,” Spiro said during the closing arguments.

Although Musk was not present for the sentencing hearing, he took to Twitter and said he was “deeply grateful” for the jury’s decision.

However, Nicholas L Porritt von Levi & Korsinsky, a shareholder attorney, shared his displeasure with the outcome, saying, “We are disappointed with the ruling and are considering next steps.”

“The result is amazing. The US Anti-Securities Fraud Act has always been seen as this great bulwark against false statements and untruths,” Reuters is quoted as saying Minor Myers Proverb who teaches corporate law at the University of Connecticut.

During the three-week trial, Musk testified that on July 31, 2018, he met with representatives of Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, at the Tesla factory in Fremont, California.

According to Musk, the governor of the fund, Yasir Al-Rumayyanwithdrew commitment to take Tesla private.

“I was very upset because when we met he was unequivocally in favor of taking Tesla private and now he seemed to be back out,” Musk testified.

He said his tweets didn’t always have an impact on…