Musk accused of selling $7.5 billion of Tesla stock before releasing disappointing sales data that plunged the share price to two-year low - eviltoast
The Tesla CEO faces claims he pocketed $3 billion in ill-gotten gains in late 2022 after learning Q4 vehicle sales would not deliver the 'epic end of year' he promised investors.
  • Elon Musk accused of illegally selling $7.5 billion in Tesla stock in Q4 2022.
  • Lawsuit alleges Musk and board violated fiduciary duties by selling shares ahead of disappointing vehicle sales data.
  • Shareholder seeks disgorgement of $3 billion in illegal gains and damages from directors for reckless behavior.
  • njm1314@lemmy.world
    241·
    5 months ago

    When are Tesla shareholders going to wake up and understand that he’s scamming them. You’re all dupes and he’s going to ride you to the last second and let you all burn.

    • Hotzilla@sopuli.xyz
      2·
      5 months ago

      They are accepting his request to give him 50b$ worth of extra stock, at the same time as they are laying off people. What a joke.