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壮志高飞
06-12

Political witch hunt. Woke media.

Tesla Shareholder Sues Musk to Return Billions in Alleged Unlawful Profits

WILMINGTON, Delaware, June 11 (Reuters) - Elon Musk made billions of dollars by selling Tesla stock using insider information, an institutional shareholder accused in a lawsuit filed on Tuesday, askin

Tesla Shareholder Sues Musk to Return Billions in Alleged Unlawful Profits

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Woke media.","highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/315888156524616","repostId":2442321439,"repostType":2,"repost":{"id":"2442321439","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1718152200,"share":"https://www.laohu8.com/m/news/2442321439?lang=&edition=full","pubTime":"2024-06-12 08:30","market":"us","language":"en","title":"Tesla Shareholder Sues Musk to Return Billions in Alleged Unlawful Profits","url":"https://stock-news.laohu8.com/highlight/detail?id=2442321439","media":"Reuters","summary":"WILMINGTON, Delaware, June 11 (Reuters) - Elon Musk made billions of dollars by selling Tesla stock using insider information, an institutional shareholder accused in a lawsuit filed on Tuesday, askin","content":"<html><head></head><body><p>WILMINGTON, Delaware, June 11 (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 court to direct the Tesla CEO to return &#34;unlawful profits.&#34;</p><p>The lawsuit comes two days before a critical vote by Tesla shareholders on whether to reinstate Musk&#39;s $56 billion pay package, after a Delaware judge voided it in January because she found that Musk had improperly controlled the process.</p><p>Musk and his brother, Kimbal Musk, a Tesla director, sold a combined $30 billion in the electric vehicle maker&#39;s stock between late 2021 and the end of 2022, cashing in before news that would cause the stock to fall became public, according to the lawsuit, which was filed by the Employees&#39; Retirement System of Rhode Island (ERSRI).</p><p>Musk sold the shares at artificially inflated prices by concealing his plan to use the proceeds to buy social media platform Twitter, which he later renamed X, according to the lawsuit, filed at the Delaware Chancery Court. 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Retirement System of Rhode Island (ERSRI).</p><p>Musk sold the shares at artificially inflated prices by concealing his plan to use the proceeds to buy social media platform Twitter, which he later renamed X, according to the lawsuit, filed at the Delaware Chancery Court. Musk also sold Tesla stock when he knew that deliveries of Tesla cars had fallen far below public projections, the lawsuit said.</p><p>Musk and Tesla did not respond to messages seeking a comment.</p><p>The Employees&#39; Retirement System of Rhode Island holds about 140,000 shares of Tesla. Tesla&#39;s stock closed at $170.66 on Tuesday, valuing the stake at about $24 million.</p><p>A similar suit filed at the same court late last month by Michael Perry, another Tesla shareholder, accused Musk of insider trading when he sold over $7.5 billion of shares in Tesla in late 2022.</p><p>Musk is in the middle of a regulatory probe to determine whether he broke federal securities laws in 2022 when he bought Twitter stock.</p><p>Tuesday&#39;s lawsuit by ERSRI also said that Musk had been disloyal toward Tesla in several instances, including diverting Tesla employees to work at X and causing Tesla to start paying for advertising on Twitter after he bought the platform.</p><p>ERSRI was concerned that Tesla&#39;s board of directors was not doing enough to oversee Musk&#39;s conflicts of interest, the fund&#39;s general treasurer said in a statement.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","BK4508":"社交媒体","LU1861215975.USD":"贝莱德新一代科技基金 A2","TSLA":"特斯拉","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","LU1548497426.USD":"安联环球人工智能AT Acc","BK4077":"互动媒体与服务","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","BK4579":"人工智能","LU1861558580.USD":"日兴方舟颠覆性创新基金B","BK4588":"碎股","BK4550":"红杉资本持仓","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","LU2602419157.SGD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"AC\" (SGD) ACC","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","BK4574":"无人驾驶","LU2756315318.SGD":"ALLIANZ INCOME AND GROWTH \"AMG\" (SGDHDG) INC A","BK4551":"寇图资本持仓","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","BK4099":"汽车制造商","BK4511":"特斯拉概念","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU0056508442.USD":"贝莱德世界科技基金A2","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","BK4516":"特朗普概念","TSLL":"Direxion Daily TSLA Bull 2X Shares","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","BK4592":"伊斯兰概念","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","LU2249611893.SGD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (SGD) ACC","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","LU2063271972.USD":"富兰克林创新领域基金","LU2756315664.SGD":"ALLIANZ INCOME AND GROWTH \"AMI\" (SGDHDG) INC","BK4534":"瑞士信贷持仓","BK4585":"ETF&股票定投概念","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4555":"新能源车","LU0097036916.USD":"贝莱德美国增长A2 USD","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc"},"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2442321439","content_text":"WILMINGTON, Delaware, June 11 (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 court to direct the Tesla CEO to return \"unlawful profits.\"The lawsuit comes two days before a critical vote by Tesla shareholders on whether to reinstate Musk's $56 billion pay package, after a Delaware judge voided it in January because she found that Musk had improperly controlled the process.Musk and his brother, Kimbal Musk, a Tesla director, sold a combined $30 billion in the electric vehicle maker's stock between late 2021 and the end of 2022, cashing in before news that would cause the stock to fall became public, according to the lawsuit, which was filed by the Employees' Retirement System of Rhode Island (ERSRI).Musk sold the shares at artificially inflated prices by concealing his plan to use the proceeds to buy social media platform Twitter, which he later renamed X, according to the lawsuit, filed at the Delaware Chancery Court. Musk also sold Tesla stock when he knew that deliveries of Tesla cars had fallen far below public projections, the lawsuit said.Musk and Tesla did not respond to messages seeking a comment.The Employees' Retirement System of Rhode Island holds about 140,000 shares of Tesla. Tesla's stock closed at $170.66 on Tuesday, valuing the stake at about $24 million.A similar suit filed at the same court late last month by Michael Perry, another Tesla shareholder, accused Musk of insider trading when he sold over $7.5 billion of shares in Tesla in late 2022.Musk is in the middle of a regulatory probe to determine whether he broke federal securities laws in 2022 when he bought Twitter stock.Tuesday's lawsuit by ERSRI also said that Musk had been disloyal toward Tesla in several instances, including diverting Tesla employees to work at X and causing Tesla to start paying for advertising on Twitter after he bought the platform.ERSRI was concerned that Tesla's board of directors was not doing enough to oversee Musk's conflicts of interest, the fund's general treasurer said in a statement.","news_type":1},"isVote":1,"tweetType":1,"viewCount":255,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":29,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}