Lawsuits accuse Tesla’s Musk of fraud over tweets, going-private proposal


(Reuters) – Tesla Inc and Chief Executive Elon Musk were sued twice on Friday by investors who said they fraudulently engineered a scheme to squeeze short-sellers, including through Musk’s proposal to take the electric car company private.

The lawsuits were filed three days after Musk stunned investors by announcing on Twitter that he might take Tesla private in a record $72 billion transaction that valued the company at $420 per share, and that “funding” had been “secured.”

In one of the lawsuits, the plaintiff Kalman Isaacs said Musk’s tweets were false and misleading, and…



Read More Here

Be the first to comment on "Lawsuits accuse Tesla’s Musk of fraud over tweets, going-private proposal"

Leave a comment

Your email address will not be published.


*