The lawsuit was filed on behalf of short seller Andrew Left and seeks class action status. After his tweet indicating otherwise, Musk announced the company will continue to be publicly traded after meeting with its board of directors. The Securities and Exchange Commission has subpoenaed Musk to discuss his initial tweet.
Estimated reading time: 0 minutes, 32 seconds
Lawsuit Targets Musk’s Privatization Tweet
The law firm of Labaton Sucharow said it filed a lawsuit in U.S. federal court alleging Tesla head Elon Musk tried to “burn” people who sold the car company’s stock short by tweeting false information regarding funding needed to take the company private. So reports Phys.org.
Most Read
-
-
Apr 07 2013
-
Written by PLP News
In a sensational case that has reportedly “grabbed the attention…
-
-
-
Mar 31 2013
-
Written by PLP News
A DLA Piper associate’s e-mail stating “that bill shall know…
-
-
-
Jan 26 2014
-
Written by PLP News
A 55-year-old attorney at White & Case, who recently filed…
-
-
-
Feb 08 2014
-
Written by Administrator
HTML Sitemap Contact Us Advertise Privacy Policy Subscription Policy Latest…
-