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Musk and Tesla targeted by two fraud procedures

Musk is targeted since Friday by two investor complaints accusing them of developing a plan to manipulate the high-end electric car specialist's course.


Devdiscourse News Desk Last Updated at 11 Aug 2018, 23:08 IST United States
Musk and Tesla targeted by two fraud procedures
  • In one of the two complaints, Kalman Isaacs, an investor, believes that Elon Musk's statements were false and misleading. (Image Credit: Twitter)

Tesla and its chief executive Elon Musk have been targeted since Friday by two investor complaints accusing them of developing a plan to manipulate the high-end electric car specialist's course.

The complaints were filed three days after Elon Musk said it plans to remove Tesla from listing, proposing to take back each title for USD 420, valuing the deal around USD 72 billion (63 billion euros).

In one of the two complaints, Kalman Isaacs, an investor, believes that Elon Musk's statements were false and misleading and that, having failed to correct them, the company executive and the company itself attempted to "decimate totally "short sellers.

Tesla did not respond to Reuters' requests for comment.

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