- In news that may have been just a question of "when" rather than "if," a Tesla (NASDAQ:TSLA) shareholder has filed a class action lawsuit accusing CEO Elon Musk of securities fraud, Reuters reports.
- Defendants (Tesla and Musk) schemed to manipulate the company's stock price and "completely decimate" short sellers via Musk's tweet mulling taking the company private with "secured funding," according to the lawsuit.
- Shares are down 0.2% after hours, after gaining 0.9% in the regular session.
- Updated 7:02 p.m.: The suit, filed by Kalman Isaacs, includes in its class investors who bought Tesla shares as they went up after Musk's tweet, before falling again later.
- Previously: Bloomberg: Tesla seeking 'wide' investing pool for go-private plan (Aug. 10 2018)
- Previously: Reuters: Tesla's board seeking more info on Musk's financing plan (Aug. 10 2018)
- Previously: Tesla board expected to push for Musk recusal (Aug. 09 2018)
- Previously: Tesla jumps again as Musk floats private offer on Twitter (Aug. 07 2018)
Original article