Tesla boss Elon Musk has again raised legal problems with his behavior on Twitter. He was sued by an investor for his ‘erratic’ tweets, which would have exposed the company to high legal risks and billions in losses.
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If Musk sends more such tweets out into the world, it could have serious consequences for Tesla’s future financing options, the 105-page complaint, released local time by a court in Delaware, United States on Friday.
It is by no means the first time that the billionaire has wriggled into his shoes with his behavior on Twitter. In 2018, he was forced to step down as chairman of Tesla’s board of directors after a collision with the US stock market watchdog SEC. He had accused him of misleading investors by tweeting about a possible stock market exit of his company and fined him millions.
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The SEC also banned Musk from tweeting about a number of price-sensitive topics surrounding Tesla without the permission of a lawyer. This included the automaker’s finances, production figures and the purchase or sale of shares by Musk.
This did not alter the fact that Musk became involved a few weeks ago in the coordinated action of private investors to increase the share of the retail chain GameStop. With a tweet he helped the price rise. Hours later, he revived the share of Etsy, an online marketplace for handmade products. And earlier, by talking about bitcoin on social media, he also boosted the price of that crypto currency.
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