Tesla gets injunction against so-called short seller | Technology



[ad_1]

Tesla has obtained a temporary restraining order against a so-called short seller, preventing him from approaching the electric car manufacturer's Californian factory following harbadment charges.

The electric car manufacturer baderted in his application for an order that the man had repeatedly harbaded his employees. He would have control over a critical Twitter account that regularly claims that Tesla is involved in a fraud and claims to bet that his shares will fall.

The man, a resident of Fremont, California, is named in the order given by a state court. He would be part of a loose online community that thinks Tesla is doomed to failure.

In Tesla's motion, it was alleged that the man broke into a security guard when he entered the company's factory. The application also alleged that the man had pursued a Tesla vehicle bearing number plates, bypbading the vehicle and heading towards it, triggering at one point a function to avoid collisions.

According to the terms of the order, reported for the first time on the Electrek website, the man is not allowed to be within 100 meters of several employees of Tesla or its headquarters or its main factory. It must also remain within 10 meters of any Tesla vehicle bearing manufacturer registration plates within five miles of the seat.

Elon Musk, founder of Tesla billionaire, wrote: "Never seen anything like it" in response to a conversation about short sellers.

Elon Musk
(@Elon Musk)

I have never seen anything like it. Tesla is just trying to make electric cars and solar energy for a better future for all. Certainly, we might not succeed, but why do they want us to fail?


April 21, 2019

The activity of supposed short sellers adds another twist to the bizarre relationship between Tesla and Twitter.

Musk, one of the foremost users of the social network, has been criticized by the US Securities and Exchange Commission (SEC) for tweeting inaccurate and market-sensitive information last year.

On Friday, Musk and the SEC had another week to settle a dispute over a later corrected tweet, according to which Tesla would manufacture 500,000 cars this year, which, according to the US regulator, constitutes a violation of a previous court settlement for allegedly misleading investors.

The dispute over revealed production figures highlights the difficulties faced by the pioneer of the electric car trying to increase its production on a large scale. The pace of production slowed down at the beginning of the year.

Tesla also announced the reduction of its board, a decision that, according to the company, would allow it to run faster and more efficiently, according to a regulatory document released Friday. The plan will reduce the number of board members from 11 to seven.

Brad Buss, Antonio Gracias, Stephen Jurvetson and Linda Johnson Rice will not be running for re-election of Tesla's board when their current mandates will end at the company's annual meetings in 2019 and 2020. The changes are not due to disagreements between Tesla and the administrators, indicates the file.

Tesla did not respond to a request for comment.

[ad_2]
Source link