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Tesla CEO Elon Musk Accused of $7.5 Billion Insider Trading in 2022

Jun 1, 2024, 02:39 AM

Tesla CEO Elon Musk is facing a lawsuit from a shareholder who claims that Musk engaged in insider trading by selling over $7.5 billion worth of Tesla shares in late 2022. The lawsuit alleges that Musk had inside knowledge of a miss on production and delivery numbers that Tesla was facing when he sold the stock. The shareholder contends that Musk's actions were aimed at avoiding losses before the stock price dropped.