Tesla Ceo Musk Accused In Lawsuit Of Fraud Over Going-private Proposal

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– Tesla Inc and Chief Executive Elon Musk were sued on Friday by an investor who said they committed securities fraud in a scheme to “completely decimate” short-sellers that included Musk’s proposal to take the electric car company private.

The proposed class-action complaint filed by Kalman Isaacs in San Francisco federal court accused Tesla and Musk of trying to artificially manipulate the company’s stock price.

It said this occurred largely through a series of tweets by Musk on Aug. 7, including when he said he might take Tesla private and that there was “funding secured.”




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