(Reuters) – Shortseller Andrew Left of Citron Research filed a securities fraud lawsuit against Tesla Inc and its Chief Executive Officer Elon Musk, alleging he had manipulated the stock price by issuing false and misleading information.
FILE PHOTO: A Tesla logo is seen in Los Angeles, California U.S. January 12, 2018. REUTERS/Lucy Nicholson
Musk stunned the markets on Aug. 7 with tweets about taking the Palo Alto, California-based company private and that funding had been “secured.”
The billionaire entrepreneur later abandoned the plan on Aug. 24.
The lawsuit was filed on behalf of all persons who purchased, sold or transacted in Tesla shares between Aug. 7-17, the filing bit.ly/2MVzZmG showed.
Reporting by Sweta Singh in Bengaluru; Editing by Anil D’Silva