Tesla investor David Wagner called for
access to internal documents to investigate whether Tesla and Musk violated an
agreement with the US securities regulator and its board members failed to
adhere to their fiduciary duties.
In 2018, Musk settled a lawsuit by the
Securities and Exchange Commission over his tweet on taking the company
private, agreeing to have the company's lawyers pre-approve tweets with
material information about the company.
Tesla shares, which had hovered near
record-highs, lost their value by about a quarter after Musk said on November 6
he would sell 10 percent of his stake if Twitter users agreed. He has since
sold nearly $14 billion worth of shares so far.
The lawsuit, filed with the Delaware Court
of Chancery on Thursday, seeks to obtain records and books related to his
tweets, including documents to identify whether the stock sales tweets were
reviewed or pre-approved in advance.
In March, another shareholder sued Musk and
its board, accusing him of violating his 2018 settlement with the SEC and
exposing shareholders to billions of dollars of losses.
Elon Musk Named Time's 2021 'Person of the Year' © Reuters
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