Elon Musk faces legal action over 1 little tweet (and a big share price jump)

Few Elon Musk’s words caused lots of problems: when you’re a founder and CEO of huge companies you should be careful with tweets.

There’s no such thing as a low-key tweet when you’re Elon Musk. “Am considering taking Tesla private at $420. Funding secured.” With those nine little words last week, Elon Musk proved that when you’re the head of one of the world’s biggest companies, your tweets can cause shock waves (and land you in legal strife). Musk’s tweet kicked off a flurry of speculation about the future of Tesla and an investigation by the US Securities and Exchange Commission. Now, Tesla and Elon Musk are facing legal action, with a number of Tesla investors filing legal complaints against the company and its founder, according to Bloomberg.

Source: Elon Musk faces legal action over 1 little tweet (and a big share price jump) – CNET

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