Tesla Shareholder Alleges Insider Trading as Musk Faces Lawsuit for Unlawful Profits

Tuesday, 11 June 2024, 23:57
A Tesla shareholder has filed a lawsuit accusing Elon Musk of making billions through insider information and demanding the return of "unlawful profits." The lawsuit reveals Musk and his brother sold $30 billion in Tesla stock before negative news hit the market. The legal battle unfolds ahead of a crucial shareholder vote on reinstating Musk's $56 billion pay package, previously voided due to process manipulation.
Yahoo Finance
Tesla Shareholder Alleges Insider Trading as Musk Faces Lawsuit for Unlawful Profits

Tesla Insider Stock Sales Lawsuit

An institutional shareholder has alleged Elon Musk's involvement in insider trading, urging the return of 'unlawful profits.'

Key Points:

  • Motive: Selling Tesla stock using non-public information
  • Amount: $30 billion by Musk and his brother
  • Legal Action: Demand for profit restitution
  • Recent Events: Shareholder vote on Musk's pay package

Conclusion: The lawsuit sheds light on potential market manipulation and governance concerns within Tesla.

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