We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Investor Hits Tesla, Musk With Fraud Claims Over Tweet

Law360 (August 10, 2018, 9:41 PM EDT) -- An investor hit Tesla Inc. and its founder Elon Musk with a proposed securities fraud class action Friday in California federal court, claiming they tried to pump up stock prices by proclaiming plans to take the company private — without having the more than $71 billion privatizing would require.

Musk, who maintains a robust Twitter presence, had tweeted on Tuesday Aug. 7 that he had “funding secured” to potentially take Tesla private at a per-share price of $420, roughly a third higher than its $344 opening that day. In a subsequent blog post, he explained why he wanted to go private,...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Attached Documents

map

Kirkland & Ellis LLP has redefined what it means to be the biggest of BigLaw — weighing in at 2,116 attorneys by year end 2018 and becoming the first firm since Law360 began tracking law firm head counts to top 2,000 U.S.-based attorneys.

Related

Sections

Case Information

Case Title

Subscribers Only

Case Number

Subscribers Only

Court

California Northern

Nature of Suit

Securities/Commodities

Judge

Subscribers Only

Date Filed

August 10, 2018

Law Firms

Companies