https://twitter.com/CrazyNotDumb/status/1938748469663121436
New York
CNN
—
Elon Musk and the Tesla board are facing a shareholder suit over his sale of $7.5 billion worth of Tesla shares in late 2022, ahead of a January 2023 sales report that sent the price of the stock plunging.
Musk sold a total of 41.5 million shares of Tesla stock between November 4 and December 12, according to company filings, as he liquidated some of his holdings to free up cash for his recently completed purchase of Twitter.
The sales came not long after a October 19, 2022 earning call in which he told investors “I can’t emphasize enough, we have excellent demand for Q4.”
But when Tesla reported fourth-quarter sales, they were far weaker than forecast, and that sent stocks down 12%, the worst day of trading for the stock in more than two years.
https://edition.cnn.com/2024/06/04/business/musk-tesla-stock-sale-lawsuit