Musk faces shareholder lawsuit over Twitter acquisition that hurt Tesla
A new shareholder derivative lawsuit alleges that Musk sold Tesla's stock, misappropriated Tesla's resources, and violated his obligations to Tesla shareholders during the process of acquiring the social media platform then known as Twitter (now renamed "X"). On Monday, the Rhode Island Employees' Retirement System sued Musk, Tesla, and Tesla board members, alleging that Musk's significant efforts in the acquisition of Twitter distracted him from his duties at Tesla, causing conflicts of interest and harm to Tesla's interests.
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