Tesla shareholders took Elon Musk and company management to court

Tesla shareholders took Elon Musk and company management to court for allegedly directing resources and talent to external artificial intelligence startup xAI. While this move caused uncertainty in the company's internal structure and position in the market, shareholders resorted to legal action to protect their investments.

Tesla shareholders took CEO Elon Musk and company management to court. Allegedly, Musk transferred Tesla's artificial intelligence resources and talented personnel to his own initiative, xAI. This situation is thought to harm Tesla's competitiveness. The case was registered on the day the vote was taken to cancel Musk's large pay package. Shareholders argue that Musk and the board of directors betrayed the interests of Tesla and its shareholders with these actions and demand compensation for their losses.

Tesla shareholders have filed a lawsuit in Delaware court against the company's CEO, Elon Musk, and his board of directors. The plaintiffs allege that Musk funneled Tesla's valuable AI resources and talented staff into his own startup, xAI. Shareholders claim that this situation harms Tesla's competitiveness.

The case was recorded on the same day a vote was taken to cancel Musk's massive pay package. Allegedly, Musk raised funds for xAI using information about Tesla's artificial intelligence and autonomous driving technologies and transferred important names from the company in the process. In particular, Tesla's computer vision team leader Ethan Knight's transition to xAI in March 2024 is noteworthy.

Shareholders also point to a period in which Musk diverted Nvidia GPUs, which were vital for Tesla, to company #xAI and X, and said that these GPUs were not necessary for Tesla. The plaintiffs argue that Musk and the board of directors betrayed the interests of Tesla and its shareholders with these actions and demand compensation for their damages.