Reported 4 months ago
A Tesla shareholder named Michael Perry filed a lawsuit in Delaware Chancery Court accusing Tesla CEO Elon Musk of insider trading. Perry alleged that Musk sold over $7.5 billion in shares before disappointing production numbers were made public in 2023, claiming Musk made about $3 billion in insider profits. The lawsuit also accused Tesla's directors of breaching their fiduciary duty by allowing Musk to sell the shares, and asked the court to instruct Musk to return the profits. Musk and Tesla have not responded to the allegations.
Source: YAHOO