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A Tesla investor is suing CEO Elon Musk over allegedly massive insider trading, accusing him of selling $7.5 billion worth of Tesla shares in late 2022 while knowing that the EV maker wouldn't be able to meet expectations by the end of the year.
In early January 2023, Tesla shares plummeted to a two-year low following disappointing sales — despite Musk promising an "epic end of year" and allegedly knowing as early as November that the carmaker wouldn't meet targets. The lawsuit highlights the growing rift between shareholders and the company's leadership. The relationship is already strained, with a shareholder vote next week deciding whether to reinstate Musk'sPerry is tapping judge Kathaleen McCormick, who already has a history of butting heads with the mercurial CEO. It was McCormick who, determining that Musk and his board had far too much influence and failed to disclose the terms of his compensation to shareholders.
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