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.
  • exanime@lemmy.today
    0·
    5 months ago

    How could a CEO of any company trade his own stock from the company and not be insider trading?

    The fact they are allowed to control stock is laughable… At best, stock from the company you control should be in a blind trust (which would still be laughable but we can at least pretend)