Shulou(Shulou.com)11/24 Report--

On October 7, Beijing time, Elon Musk, the world's richest man, is currently in a lawsuit. As his business empire grew, so did the lawsuits. From the U.S. government, Tesla shareholders, Twitter investors to SpaceX employees, they all sued Musk in court.

Here are the legal challenges Musk is currently facing:

According to court documents made public on October 5, the Securities and Exchange Commission (SEC) has sued Musk to force him to comply with subpoenas issued by the SEC to testify in the SEC investigation into his $44 billion acquisition of Twitter (renamed X). In May 2022, Twitter investors sued Musk, accusing him of manipulating Twitter's stock price by failing to disclose in time that he was buying Twitter stock in March 2022. On October 2, a legal marketing firm sued X in Florida federal court, claiming that the social media company's new name violated its trademark rights containing the letter "X."

In 2018, Tesla shareholders sued Musk and Tesla's board, arguing that the board's $56 billion pay package was illegally enriching Musk. The lawsuit began in November. At present, the case has concluded a non-jury trial and a verdict is expected soon. In February, a judge urged Tesla directors and investors 'lawyers in closing arguments to determine whether Musk's explosive growth outweighed the board's misleading disclosures about its 2018 compensation plan.

Plaintiffs 'lawyers argued that Tesla's board statement about Musk's compensation plan was misleading because the directors claimed to be "independent," but there were many indisputable conflicts of interest between them and Musk. Tesla's board lawyers said Tesla's share price rose tenfold under Musk's leadership, and since shareholders were rewarded, why couldn't Musk get a high salary?

Musk's main companies Tesla, SpaceX and X have been embroiled in several employment discrimination lawsuits. In October, a former female SpaceX employee filed a proposed class-action lawsuit alleging SpaceX promoted women and minorities less frequently than white men. In April, a federal jury in San Francisco ordered Tesla to pay $3.2 million in damages to a black elevator operator who won a racial harassment lawsuit. Tesla said it does not tolerate discrimination and has taken steps to address workers 'complaints.

Musk's tweets on X have often sparked controversy and have been the subject of legal disputes. In March, an appeals court upheld a decision by the National Labor Relations Board that Musk's tweet threats violated federal labor law. Musk previously tweeted that Tesla employees would lose stock options if they joined a union. In February, a jury in the United States ruled that Musk and Tesla were not responsible for misleading investors because of tweets Musk posted in 2018. He said at the time that he had "raised funds" to privatize Tesla. The tweet also sparked an SEC fraud lawsuit, forcing Musk to settle with the SEC and pay a $20 million fine to step down as Tesla chairman.

Autopilot fatal case

California court documents show Tesla faces a lawsuit over its Autopilot system for causing a fatal Model 3 accident that killed one person and injured two other passengers. Tesla's lawyer responded that the accident stemmed from a "classic human error." Tesla has also been under criminal investigation in the United States for claiming its electric cars can drive autonomously.

In June, Musk was charged with insider trading in a proposed class action lawsuit. Investors say he manipulated cryptocurrency Dogecoin, causing them to lose billions of dollars. Dogecoin investors said in a filing in Manhattan federal court that Musk used Twitter posts, influencers and PR stunts to create momentum, trading with several Dogecoin wallets controlled by him or Tesla at their expense.

On October 4 this year, former US President Don Trump's lawyer asked the US Court of Appeals to reinstate his lawsuit against X. Trump said X suspended his and other users 'accounts, violating their right to free speech. The case was dismissed last year.

Tesla has also been investigated by federal prosecutors for allegedly exaggerating its range. Foreign media reported in July that autonomous devices in Tesla cars often provide owners with an "optimistic" range expectation, but actual tests show that it often fails to meet that range expectation.

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