4 weeks ago
Elon Musk, CEO of Tesla, makes grand bets and pronouncements, gets cornered by TMZ and often injects himself into other world issues. This means that sometimes, lawyers get involved. But recently, a lot of lawyers have been getting involved. On August 7, Musk tweeted that he was considering taking his company private and that he had the funding to do so.
Am considering taking Tesla private at $420. Funding secured.
— Elon Musk (@elonmusk) August 7, 2018
The second part of that tweet may not have been fully true, leading to a lot of attention from shareholders and federal regulators. Plus, ex-employees have filed two whistleblower complaints with the US Securities and Exchange Commission, alleging retaliation and the coverup of a drug ring, while others say they were improperly fired from the company.
At least four Tesla shareholders have accused the company of fraud and market manipulation, reports Wired. One shareholder wants everyone who purchased Tesla securities after the aforementioned tweet to join his case. The SEC has also reportedly opened a probe into Musk’s Twitter activity. He was served with subpoenas last week. In order to keep all these lawsuits straight, Wired wrote out the wildest lawsuits currently facing the company.Read the full story at Wired