07 June 2024

Speaking of Over privileged Corrupt Asshole Tech Bros

It looks like Apartheid Era Emerald Heir Pedo Guy™ has been a very bad boy.

There are allegation massive insider trading in advance of the release of bad numbers for Tesla:

A Tesla investor is suing CEO Elon Musk over allegedly massive insider trading, accusing him of selling $7.5 billion worth of Tesla shares in late 2022 while knowing that the EV maker wouldn't be able to meet expectations by the end of the year.

"By disposing of $7,530,113,926 worth of Tesla stock in November and December 2022 while he was in possession of adverse, material non-public information, E. Musk exploited his position at Tesla, and he breached his fiduciary duties to Tesla," reads the lawsuit, filed by shareholder Michael Perry.

In early January 2023, Tesla shares plummeted to a two-year low following disappointing sales — despite Musk promising an "epic end of year" and allegedly knowing as early as November that the carmaker wouldn't meet targets.

As such, Perry is calling for an estimated $3 billion to be returned to Tesla and seeking damages from the company's directors for their "reckless disregard."


Perry is tapping judge Kathaleen McCormick, who already has a history of butting heads with the mercurial CEO. It was McCormick who originally voided Musk's pay package, determining that Musk and his board had far too much influence and failed to disclose the terms of his compensation to shareholders. 
Pass the popcorn.


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