cross-posted from: https://programming.dev/post/15086231
- Elon Musk accused of illegally selling $7.5 billion in Tesla stock in Q4 2022.
- Lawsuit alleges Musk and board violated fiduciary duties by selling shares ahead of disappointing vehicle sales data.
- Shareholder seeks disgorgement of $3 billion in illegal gains and damages from directors for reckless behavior.
They have to eventually make that information public and SEC will track the large buy/sell order taken place before the information is public.
So it’s pretty quick and easy to catch them if someone wants to.