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.
  • @Ballistic_86@lemmy.world
    22•6 months ago

    Insider trading seems to have been perfectly legal for the last few decades. Nothing will come of this or it would start setting precedent that we could use against our government leaders and other billionaires and federal judges. Not gonna happen.