Investors sue Tesla over Elon Musk’s Twitter use

A group of investors has sued Tesla over the Twitter use of its CEO, Elon Musk. They are particularly concerned about the ‘repeated misinformation’ being spread about Tesla. The US SEC has previously investigated Musk.

The lawsuit has been filed in a Delaware court, according to Bloomberg news agency. The group of investors who filed the case are concerned about messages that CEO Elon Musk has spread via Twitter, which they believe are damaging Tesla’s business.

The investors are mainly concerned about a message that Musk put on Twitter in February, in which he claimed that Tesla would make half a million cars in 2019, a number that on closer inspection cannot be achieved. Through the lawsuit, the investors want to enforce that such mistakes will not be made again.

It’s not the first time Musk’s Twitter use has come under fire. Earlier, the US SEC launched an investigation into the CEO over reports posted about the possible delisting of Tesla, which had an immediate impact on the share price. Musk reached a settlement with the SEC, stepping down as chairman of the board, but despite the settlement, he continued to criticize the SEC.