Tesla shareholder, ERSRI sues Elon Musk on "unlawful profits" insider trading 2020-21
$Tesla(TSLA.US$ $BYD COMPANY(01211.HK$ $NIO Inc(NIO.US$ $XPeng(XPEV.US$ You can read the lawsuit through the screenshot and the details using the link given below.
My Take: Here are my doubts about the lawsuit:
1) Why does ERSRI sue EM now on insider trading happened 3-4 years ago (in 2020-21)?
2) Insider trading is legal and has to be done over a transparent procedure. ERSRI and Tesla board of directors knew about it. Why ERSRI didn't sue Tesla board for doing nothing like negligence?
For the first question, I think ERSRI is trying to influence the voting of the Tesla Shareholders Meeting - causing mistrust of retail investors to EM. I take the lawsuit with a pinch of salt.
Source:
$BYD COMPANY(01211.HK$ $BYD Co.(BYDDF.US$ $S&P 500 Index(.SPX.US$ $Nasdaq Composite Index(.IXIC.US$ $Tesla(TSLA.US$ $VOLKSWAGEN A G(VWAGY.US$ $NIO Inc(NIO.US$ $Li Auto(LI.US$ $XPeng(XPEV.US$ $General Motors(GM.US$ $Ford Motor(F.US$ $Rivian Automotive(RIVN.US$ $MERCEDES-BENZ GROUP AG(MBGAF.US$ $TOYOTA MOTOR CORP(TOYOF.US$ $GEELY AUTO(00175.HK$ $Stellantis NV(STLA.US$
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I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.
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Revelation 6 : Sounds like they’re just crying. If they could have done it themselves they would have. Their jealousy is petty and they don’t wear it very well. Worry about making your cars, not what others are doing.
Dream Weaver : Tsla billions in fortune is too dependent on 1 man. This is a key man risk all has to deal with. Is it worth all the stakes?
ZnWC OP Dream Weaver : The lawsuit has nothing to do with doing justice or EM posing a risk to Tesla. It is about the TSLA share price -31% YTD. If the stock performed like Nvidia, everyone will approve EM's 2018 pay package without question. The only winner in the lawsuit is the lawyer. @Revelation 6