Tesla, Elon Musk and shareholders Lander
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Lander asked the New York City Law Department to pursue securities litigation against Tesla on behalf of the New York City pension systems, which owns 3 million shares in Tesla.
From Electrek
Tesla sales declined in the first three months of the year, another sign that Elon Musk’s once high-flying electric car company is struggling to attract buyers.
From U.S. News & World Report
Musk is preparing to exit his government post, having led the Department of Government Efficiency (DOGE), and overseen sweeping cuts across numerous federal agencies.
From Fast Company
Read more on News Digest
New York City Comptroller Brad Lander claims Tesla misled shareholders about CEO Elon Musk’s commitment due to his role in the Department of Governmen
Those shareholders include the five New York City pension funds, for which Lander is custodian. Their aggregate value of Tesla common stock fell to $831 million on March 28 vs. $1.3 billion on Dec. 31. Total pension system assets are $284.3 billion.
The investment advisor to the city's five pension funds, which have collectively lost more than $300 million amid the stock's 40% plunge, is calling for legal action.
Brad Lander, the comptroller, said Elon Musk’s actions on behalf of the Trump administration had hurt Tesla’s stock price.
1don MSNOpinion
Shares of Tesla (NASDAQ: TSLA) are rebounding on Wednesday. The electric vehicle maker's stock gained 5.1% as of 12:22 p.m. ET after falling as much as 6.4% earlier in the day. The recovery comes as the S&P 500 and Nasdaq Composite gained 0.
"Climate risk is financial risk,” says Brad Lander. “If we don’t move toward net zero, we will burn up trillions of dollars.”
Tesla Inc.’s vehicle sales fell 13% last quarter to an almost three-year low, as the carmaker made over its most important model and dealt with international backlash against Elon Musk.
City Comptroller Brad Lander is pushing for the city to file a shareholder lawsuit against Tesla, alleging the automaker misstated how much CEO Elon Musk’s work for the Trump administration has pulled him away from the company.
New York City Comptroller and mayoral candidate Brad Lander stormed out of a campaign event Saturday afternoon when a mob of protesters ambushed the stage and heckled him on climate change – brandishing a sign calling the lefty politician “Black Rock Brad.”