Tesla Faces NYC Lawsuit Over CEO Elon Musk's Alleged Neglect, Claims Musk's Role At DOGE Led To $300 Million In Pension Losses

Benzinga

New York City Comptroller Brad Lander urged the city to sue Tesla and CEO Elon Musk for allegedly breaching fiduciary duties, according to Electrek. Lander asked the city’s Law Department to file a securities lawsuit on behalf of the New York City pension systems, which own 3 million Tesla shares. He claimed Musk had neglected Tesla by prioritizing the Department of Government Efficiency and his alliance with Trump. He argues this has led to a 40% stock drop and over $300 million in pension losses. Lander alleged that Tesla misled investors about Musk’s CEO role and echoed concerns about the board’s lack of oversight.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02New York City Comptroller Brad Lander urged the city to sue Tesla and CEO Elon Musk

00:07for allegedly breaching fiduciary duties, according to Electric.

00:10Lander asked the city's law department to file a securities lawsuit

00:13on behalf of New York Pension City Systems, which own three million Tesla shares.

00:18He claimed Musk has neglected Tesla by prioritizing the Department of Government

00:22Efficiency and his alliance with President Trump.

00:25He argues this has led to a 40% stock drop and over $300 million in pension losses.

00:30Lander alleged the Tesla misled investors about Musk's CEO role

00:34and echoed concerns about the board's lack of oversight.

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