Musk May Face Multiple Sets of Investor Lawsuits Over His Infamous Tweet
- There are ‘so many different types of investors,’ judge says
- Tesla lawyer doesn’t ‘want to hear about the Hague convention’
Elon Musk
Photographer: Troy Harvey/Bloomberg
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Elon Musk’s now-infamous tweet saying he’d secured funding to take Tesla Inc. private did so much damage to so many different kinds of investors that he should have to face not one, but two or even three separate groups of securities fraud lawsuits, according to lawyers for shareholders.
A federal judge is weighing whether to divvy the litany of complaints into categories because some aggrieved investors had traditional long positions on the electric car-maker’s shares, while others were shorting the stock or held options.