Aug 10, 2018

Tesla shareholders accuse Elon Musk of securities fraud in lawsuit

Elon Musk. Photo: Joshua Lott/Getty Images

Tesla shareholders have proposed filing a class-action lawsuit against the company and CEO Elon Musk accusing him of securities fraud, reports Reuters.

The big picture: Shareholders are say Musk's tweet claiming he would take Tesla private was an attempt to manipulate Tesla's stock price and ruin plans for short-sellers.

The details: The lawsuit was filed by Keller Lenkner, LLC. on behalf of Tesla's shareholders. The lawsuit focuses on a statement Musk made on Twitter saying funding for the deal to privatize the company had been "secured," but claims that statement was false.

  • Tesla's stock rose to $387.46 in reaction to the tweet — a full $45.57 over the previous day's closing price.

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The cost of going after Bloomberg

Illustration: Eniola Odetunde/Axios

Here's the growing dilemma for 2020 Democrats vying for a one-on-one showdown with frontrunner Bernie Sanders: Do they have the guts — and the money — to first stop Mike Bloomberg?

Why it matters: Joe Biden, Pete Buttigieg, Amy Klobuchar and Elizabeth Warren all must weigh the costs of punching Bloomberg where he looks most vulnerable: stop-and-frisk, charges of sexism, billionaire entitlement. The more zealous the attacks, the greater the risk he turns his campaign ATM against them.

How Trump’s economy stacks up

Source: "Presidents and US Economy", Trump figures through 2019 courtesy of Alan Blinder; Note: Data shows real GDP and Q1 growth in each term is attributed to the previous president; Chart: Axios Visuals

Average economic growth under President Trump has outpaced the growth under Barack Obama, but not all of his recent predecessors.

Why it matters: GDP is the most comprehensive economic scorecard — and something presidents, especially Trump, use as an example of success. And it's especially relevant since Trump is running for re-election on his economic record.

Coronavirus cases rise as 14 American evacuees infected

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's NHC; Note: China refers to mainland China and the Diamond Princess is the cruise ship offshore Yokohama, Japan. Map: Danielle Alberti/Axios

14 Americans evacuated from the Diamond Princess cruise ship tested positive for the novel coronavirus before being flown in a "specialist containment" on a plane repatriating U.S. citizens back home, the U.S. government said early Monday.

The big picture: COVID-19 has now killed at least 1,770 people and infected almost 70,000 others. Most cases and all but five of the deaths have occurred in mainland China. Taiwan confirmed its first death on Sunday, per multiple reports, in a 61-year-old man with underlying health conditions. Health officials were investigating how he became ill.

Go deeperArrowUpdated 5 hours ago - Health