(Reuters) – Elon Musk was forced through a months-long court battle to buy Twitter on Thursday, but numerous lawsuits remain against the world’s richest person and electric carmaker Tesla Inc, where he is chief executive.
Twitter investors sued Musk in May in San Francisco federal court, claiming he manipulated Twitter’s stock price by failing to disclose in March he was amassing shares in the social media platform. The Securities and Exchange Commission has also said it is investigating the timing of Musk’s disclosures.
Musk’s attorneys have asked the court to dismiss the lawsuit, arguing it is barred by federal securities law.
$55 BILLION TESLA PAY LAWSUIT
A shareholder of Tesla wants a judge to find that Musk’s Tesla pay package, which is estimated to be worth $55 billion, unjustly enriches Musk. The case is scheduled to go to trial on Nov. 14 in Delaware’s Court of Chancery. Tesla has said the pay aligns Musk’s incentives with shareholders and has benefited investors.
Tesla and Musk are defending numerous allegations of workplace harassment and discrimination, including a lawsuit by California’s Department of Fair Employment and Housing (DFEH).
In 2021, a jury awarded a Black elevator operator who worked at Tesla’s factory in Fremont, California, $137 million in damages before a new trial was ordered. Separately, a Tesla shareholder has sued the company, claiming it has not adequately tackled workplace discrimination and harassment.
Tesla has said it does not tolerate discrimination and has taken steps to address workers’ complaints.
LAWSUITS SPARKED BY MUSK’S TWEETS
In August 2018, Musk sent a tweet that he had “funding secured” to take Tesla private, sending shares sharply higher. The tweet sparked a series of lawsuits.
A 2018 lawsuit by the U.S. Securities and Exchange Commission ended with Musk stepping down as Tesla chairman, paying fines and