Elon Musk's Poll Tweet Troubled, Losing Investors Sue Tesla!

Tesla Inc has been hit by a lawsuit over social media posts by its CEO, Elon Musk. (photo: instagram)

JAKARTA - Tesla Inc was hit by a lawsuit over social media posts made by its CEO, Elon Musk. The richest man in the world once conducted a poll on his Twitter about the sale of shares of the electric car factory which has resulted in lowering its share price.

Tesla investor David Wagner requested access to internal documents to investigate whether Tesla and Elon Musk had breached agreements with US securities regulators and that board members failed to comply with their fiduciary obligations.

In 2018, Elon Musk settled a lawsuit by the Securities and Exchange Commission over his tweets about taking the company private. He agreed to use company attorneys to approve tweets with material information about the company.

Tesla shares, which are near record highs, lost about a quarter of their value after Musk said on November 6 that he would sell 10% of his stake if Twitter users agreed. Furthermore, he has approved the opinion of the majority of his followers on Twitter and sold nearly 14 billion US dollars in shares so far.

The lawsuit, which was filed in Delaware Chancellery Court on Thursday, December 16, seeks to obtain records and books related to Elon Musk's tweet. Includes documents to identify whether these share sale tweets were reviewed or pre-approved.

In March, another shareholder sued Elon Musk and his board, accusing him of breaching a 2018 settlement with the SEC that cost shareholders billions of dollars in losses.