The Tesla CEO faces claims he pocketed $3 billion in ill-gotten gains in late 2022 after learning Q4 vehicle sales would not deliver the 'epic end of year' he promised investors.
  • 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.
    • cosmicrookie@lemmy.world
      40·
      5 months ago

      So… i vaguelly knew about her so did some searching

      she served five months in federal prison for fraud and was released in March 2005. There was speculation that the incident would effectively end her media empire,[2] but in 2005 Stewart began a comeback campaign[3] and her company returned to profitability in 2006.[4] Stewart rejoined the board of directors of Martha Stewart Living Omnimedia in 2011[5] and became chairwoman of her namesake company again in 2012

      Its pretty mild isn’t it?

      • Fedizen@lemmy.world
        442·
        5 months ago

        except they wont even do that to musk. Nobody wants to try a billionaire in court, musk is known to send armies of private detectives on people. He’ll close a factory in your district out of spite. Billionaires are afraid of taxes because as long as they have way too much money they can continue to do the illegal shit that made them rich.