AnActOfCreation@programming.dev to

News@lemmy.world · 29 days ago

Musk accused of selling $7.5 billion of Tesla stock before releasing disappointing sales data that plunged the share price to two-year low

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Musk accused of selling $7.5 billion of Tesla stock before releasing disappointing sales data that plunged the share price to two-year low

AnActOfCreation@programming.dev to

News@lemmy.world · 29 days ago

The Tesla CEO faces claims he pocketed $3 billion in ill-gotten gains in late 2022 after learning Q4 vehicle sales would not deliver the 'epic end of year' he promised investors.

Elon Musk accused of illegally selling $7.5 billion in Tesla stock in Q4 2022.
Lawsuit alleges Musk and board violated fiduciary duties by selling shares ahead of disappointing vehicle sales data.
Shareholder seeks disgorgement of $3 billion in illegal gains and damages from directors for reckless behavior.

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suction@lemmy.world
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28 days ago
Used to be you pull this shit (insider trading) and be locked away for life. Times they 'r a changing, indeed.
- dual_sport_dork@lemmy.world
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  28 days ago
  I don’t know about life. Martha Stewart got 5 months (and some house arrest and probation after that).

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