Brief by Shorts91 Newsdesk / 05:31am on 01 Jun 2024,Saturday International
A Tesla shareholder filed a lawsuit accusing CEO Elon Musk of insider trading by selling over $7.5 billion in company shares before public disclosure of potentially disappointing production numbers. Filed in Delaware Chancery Court, the suit claims Musk profited about $3 billion from trades made in November and December 2022. It alleges Musk breached fiduciary duties and seeks the return of profits. Musk and Tesla have yet to respond. This adds to Musk's legal woes, including opposition to his $56 billion pay package and a regulatory probe for stock purchases in a renamed Twitter.
