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Elon Musk is facing a federal lawsuit from a group of Twitter shareholders who claim the Tesla founder failed to properly disclose his purchases of the social media giant’s stock. The suit filed ...
McCormick called the compensation granted by the company's board "an unfathomable sum" that was unfair to shareholders. In response to the ruling, Musk posted on X: "Never incorporate your company in the state of Delaware." [8] In June 2024, shareholders approved reincorporating Tesla in Texas and reapproved Musk's compensation. [9]
San Francisco-based Twitter is also named as a defendant in the lawsuit, which seeks class action status as well as compensation for damages. Twitter shareholders sue Musk, say he 'deflated' stock ...
The Securities and Exchange Commission sued Elon Musk in federal court on Tuesday for allegedly misleading shareholders when he bought hundreds of millions of dollars worth of Twitter stock in ...
Shareholders filed a lawsuit over the tweet, [8] and in February 2023, a jury found Musk and Tesla not liable. [9] Musk has stated in interviews that he does not regret posting the tweet that triggered the SEC investigation. [10] [11] In 2019, Musk stated in a tweet that Tesla would build half a million cars that year. [12]
Musk's ownership of Twitter also has proved unpopular with Tesla shareholders who worry about him being distracted as the automaker faces more competition. Tesla's stock has lost about one-third ...
WILMINGTON, Delaware (Reuters) -Elon Musk made billions of dollars by selling Tesla stock using insider information, an institutional shareholder accused in a lawsuit filed on Tuesday, asking the ...
The business magnate Elon Musk initiated an acquisition of American social media company Twitter, Inc. on April 14, 2022, and concluded it on October 27, 2022. Musk had begun buying shares of the company in January 2022, becoming its largest shareholder by April with a 9.1 percent ownership stake.