One Tesla shareholder filed suit against CEO Elon Musk alleging that he committed insider trading by selling shares just before production took a downturn.
Michael Perry filed the lawsuit in regard to Musk selling his shares in November and December of 2022. During thatHowever, Perry alleges that Musk would have lost 45% of his share value had he sold after the November production and delivery data became public. Share prices went down beginning around Nov. 4 when they were over $228 per share, down to just over $113 by that next January until it increased again.
, it describes itself “as the nation’s preeminent forum for the determination of disputes involving the internal affairs” of various businesses nationwide.This is the same court where a judge denied Musk’s $56 billion compensation package in a lawsuit from one of Tesla’s shareholder last month. Ever since, Musk has been pushing the company to no longer incorporate itself in Delware. Already Musk reincorporated his SpaceX company to Texas after it was originally incorporated in Delaware.
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