Tesla CEO Musk accused in lawsuit of defrauding shareholders
In a proposed class-action complaint filed with the federal court in San Francisco, Kalman Isaacs said the scheme was conducted in part to "completely decimate" short-sellers, eventually leading to an inquiry by the U.S. Securities and Exchange Commission.
The class includes investors who bought Tesla shares as they were rising in the wake of Musk`s tweet. The share price later fell.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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