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Tesla investors sues Musk over tweeting



SEC is not the only concern that Elon Musk may have crossed the line (again) with his tweets. A group of institutional investors have sued to stop Musk's "uncontrolled use of Twitter" to make "repeated misinformation" they believe they have harmed Tesla and, of course, their shareholders. Musk allegedly violated his obligations to investors as he tweeted that Tesla would produce "around 500k" cars in 2019, and backers will have firm guarantees to make sure this doesn't happen again.

The SEC has already asked a judge to find Musk in contempt for his settlement after he did not seem to have cleared the "500k" tweet with the lawyer responsible for knowing his tweets.

We have asked Tesla for comment. This is not the biggest threat Musk faces, since the SEC could suspend him from running Tesla, or ban him directly. But it certainly puts pressure on the executive to clear their comments, whether voluntary or in court.

Reporting Jon Fingas for Engadget.

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