Tesla investor sues Elon Musk for causing problem with his “erratic tweets”
Elon Musk, the controversial multi-billionaire is being sued by an investor in his Tesla company. Moreso, he was accused by the investor of unsettling the markets and exposing his investors to high risk with his “erratic tweets”.
Elon Musk, the controversial multi-billionaire is being sued by an investor in his Tesla company. Moreso, he was accused by the investor of unsettling the markets and exposing his investors to high risk with his “erratic tweets”.
Chase Garrity an investor in the US electric car maker, Tesla, sued the founder of the company for his erratic Twitter messaging.
According to him, he has exposed the company to high legal risks and billions in price losses.
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The 105-page lawsuit was published in the US court of Delaware and it accuses Musk of violating the settlement negotiated with the US Securities and Exchange Commission in 2018.
However, Tesla Management has not released a statement on this fresh lawsuit.
The lawsuit also includes the entire Tesla board and its supervisory body for not calling Musk to order.
In May 2020 Musk caused a 14 billion dollar loss in market value on a single trading day with a series of unguarded tweets. He tweeted about Tesla’s market value being too high and how he was going to dispose of all physical assets.
Meanwhile, Tesla has officially given CEO Elon Musk the title of “Technoking of Tesla,” in a new regulatory filing on Monday.
Musk will retain his position as chief executive officer, Tesla said.
