🚨🚨🚨Allegedly, $7.5 billion lawsuit shock against Elon Musk
Tesla CEO #ElonMusk has been sued over his $7.5 billion sales in 2022. In the case file, it is suggested that Musk made this sale by obtaining information from within the company.
#Tesla CEO Elon Musk has been sued for allegedly making $7.5 billion in sales by taking information from inside the company (insider trading).
The lawsuit filed by a Tesla shareholder named Michael Perry alleges that Musk acted knowing that his company's production and delivery figures would be below expectations when selling Tesla shares worth more than $7.5 billion in 2022.
Perry alleged that Musk abused his position at Tesla, failed to fulfill his fiduciary responsibilities to the company and its shareholders. In the lawsuit petition, “Musk abused his position and profited by using the financial information he received from the inside for his own benefit.” it was said. The plaintiff asked the court to take a decision that Musk should return the profits from this sale to the company.
Nov January 2022, Musk learned that Tesla could not meet fourth-quarter expectations, Perry argued, before the figures were announced the following January, he made a share sale of $ 7.53 billion. Tesla shares fell by more than 12 percent to $ 108 on the first trading day after the release of the figures.
