Musk is facing shareholder lawsuits over his acquisition of Twitter that harmed Tesla
2024-06-11 21:53:25
A new shareholder derivative lawsuit alleges that Musk violated his obligations to Tesla shareholders by selling Tesla stock and misappropriating Tesla resources in the process of acquiring the social media platform then known as Twitter (now renamed "X"). On Monday, the Rhode Island Employees' Retirement System sued Musk, Tesla and Tesla board members, alleging that Musk had diverted his responsibilities at Tesla by investing heavily in the Twitter acquisition, creating a conflict of interest and harming Tesla's interests.
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