On the Mask sued for fraud


Elon, MASCOTA: Joe Skipper / Reuters

Trader and founder of investment publication Citron Research, Andrew left, was filed in Federal court in California on entrepreneur Elon musk. As reported CNB–°, the founder of Tesla accused of violating the securities act.

The lawsuit alleges that Musk is specifically given false information to affect the stock price of Tesla. In August, he announced on Twitter that it plans to buy back securities from the calculation of $ 420 per share, stating that the funding for this operation is already provided. However, criticism in the network and negotiations with shareholders forced the Mask to change his mind, and he decided to leave Tesla is a public company.

The lawyer Left Michael Kant called the situation a “textbook case of fraud”. “We believe that Musk is specifically manipulated the stock price by using misleading tweets that caused damage to the investors,” he said.

Earlier the Mask has sued the shareholders of Tesla, who said that the posts of the businessman brought them a loss. According to them, after reports about the intention to redeem the shares began a sharp fluctuations of their course. The investors had purchased securities at artificially inflated prices to cover their positions.

Video, photo All from Russia.


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