Saturday, 11 August 2018

Tesla's Elon Musk faces lawsuit from unhappy investors



Elon Musk's bombshell announcement that he is thinking of taking the electric car company Tesla private has landed him a lawsuit from unhappy investors.

 
The American entrepreneur said on Tuesday that de-listing from the stock exchange could be the "best path forward" for the firm.


His comments caused the share price to shoot up 11% to nearly $380 (£298), though it has since fallen back.


Short-sellers, who bet on share price falls, allege he misled the market.


Mr Musk, Tesla's founder and chief executive, announced that he might take the company private in a deal worth $72 billion, valuing the company at $420 a share.
However, he did not specify exactly where the money for such a deal, which would be the largest of its kind for more than a decade, would come from.




BBC      News.