Musk exploited his position at Tesla, and he breached his fiduciary duties to Tesla
- A Tesla shareholder filed a lawsuit on Thursday accusing CEO Elon Musk of insider trading when he sold over $7.5 billion of shares of the electric car maker in late 2022, saying the billionaire entrepreneur sold the shares before potentially disappointing production and delivery numbers were made public.
According to the lawsuit, Musk sold the shares on various dates in November 2022 and December 2022. The lawsuit also accused Tesla's directors of breaching their fiduciary duty by allowing Musk to sell the shares. "Had waited to make these sales until after the release of material adverse news,... his sales would have netted him less than 55% of the amounts realized from his November and December 2022 sales," the lawsuit said. The lawsuit is the latest legal headache for Musk.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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