Lawsuit Alleges Musk Unlawfully Profited from Tesla Stock Sales
An institutional shareholder has filed a lawsuit accusing Elon Musk of making billions through insider trading by selling Tesla stock before public news impacted its price. The lawsuit, filed by the Employees' Retirement System of Rhode Island, seeks the return of alleged unlawful profits.
Musk and his brother, Kimbal Musk, are accused of selling $30 billion in stock between late 2021 and 2022, using insider information. The lawsuit claims Musk sold shares at inflated prices without disclosing plans to buy Twitter, later renamed X, and when Tesla car deliveries fell below projections.
Musk and Tesla have not commented on the lawsuit.
Another shareholder recently filed a similar suit accusing Musk of insider trading. The lawsuit also alleges Musk's disloyalty to Tesla, including diverting employees to X and causing Tesla to pay for advertising on Twitter.
Concerns were raised about Tesla's board overseeing Musk's conflicts of interest. Musk's involvement with xAI, diverting AI semiconductors from Tesla, and recent AI chip shipments also drew attention.
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ZnWC : You can read the details from the source given in the post.
Tesla shareholder, ERSRI sues Elon Musk on "unlawful profits" insider trading 2020-21
https://www.moomoo.com/community/feed/112602453835782?share_code=013EsV
BullnBearTrading OP ZnWC : thanks for your insight
ZnWC : @PepsiCo has lost an argument and become angry . He should learn to accept opposing views. Doing a personal attack has no place in this platform.
ZnWC ZnWC : For the record, the personal attack comment was removed.