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Episode details

World Service,5 mins

Why are Tesla shareholders suing Elon Musk?

Newsday

Available for over a year

Tesla founder, Elon Musk, is being sued by Tesla shareholders arguing he manipulated the firm's share price. Investors who say one of his tweets in 2018 cost them billions of dollars – a tweet in which he said he'd secured funding to take Tesla private. The post caused the firm's value to soar; it then plummeted when it emerged that the buyout wasn't going ahead. Mr Musk, who denies fraud, has already paid a personal fine of $20m to US regulators. Transportation editor at Verge, Andrew Hawkins, breaks down everything you need to know about the trial and its background. (Photo: Tesla CEO Elon Musk talks to media as he arrives to visit the construction site of Tesla. Credit: Getty Images)

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