Elon Musk faces allegations of insider trading by Tesla shareholder in lawsuit

Elon Musk faces allegations of insider trading by Tesla shareholder in lawsuit


One Tesla shareholder filed suit against CEO Elon Musk, alleging that he had 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 that fourth quarter, Tesla delivered over 405,000 cars, which represented a growth of 40% year over year, despite a dip in November.

However, 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.

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Perry filed his suit in

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