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News@lemmy.world · 7 months ago

Musk accused of selling $7.5 billion of Tesla stock before releasing disappointing sales data that plunged the share price to two-year low

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Musk accused of selling $7.5 billion of Tesla stock before releasing disappointing sales data that plunged the share price to two-year low

AnActOfCreation@programming.dev to

News@lemmy.world · 7 months ago

The Tesla CEO faces claims he pocketed $3 billion in ill-gotten gains in late 2022 after learning Q4 vehicle sales would not deliver the 'epic end of year' he promised investors.

Elon Musk accused of illegally selling $7.5 billion in Tesla stock in Q4 2022.
Lawsuit alleges Musk and board violated fiduciary duties by selling shares ahead of disappointing vehicle sales data.
Shareholder seeks disgorgement of $3 billion in illegal gains and damages from directors for reckless behavior.

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spidermanchild@sh.itjust.works
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7 months ago
What does a Roth vs 401k have to do with any of this? I buy index funds in both accounts, nothing to do with company stock programs whatsoever.

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