Elon Musk Sued By Tesla Shareholder
-A shareholder in Tesla Electric Autos is suing Elon Musk for his tweets about the company
-The shareholder claims that the CEO’s tweets have caused investors to lose billions in dollars
-Musk has also been accused of breaking settlements reached with the US Securities and Exchange Commission
A Tesla shareholder has sued the company’s CEO, Elon Musk for his tweets.
Musk has been accused of exposing the company’s investors to losses with his comments.
The lawsuit also accuses the billionaire of breaching settlements reached with the US Securities and Exchange Commission (SEC).
In 2018, Musk was sanctioned by the SEC when he made a Tweet about taking Tesla public.
The move inflated the shares of the company by over 13%, a move that violates security laws.
A settlement was reached between both parties that required Musk to pay a fine of $20 million and have his tweets vetted by lawyers.
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The new lawsuit claims that Musk has continued to tweet without advance approval.
Recently Musk has risked sanctions from regulators with his tweets about Bitcoin.
The SpaceX boss first tweeted in the support of the cryptocurrency, contributing to its price rise before turning his back on the coin.
