• 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.
  • Cyborganism@lemmy.ca
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    5 months ago

    Normally, yes. Working in a couple of big corporations, we would be told when we can’t trade because of internal announcements. We could potentially be accused of insider trading. Unless this read a timed trade that was already scheduled ahead of time.