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Andrew Left, of Citron Research, said Thursday that he was suing Tesla and his CEO Elon Musk for violating federal securities laws.
Musk changed course on August 24, when he said in a blog post that the company would remain listed on the stock exchange, citing resistance from existing shareholders to its privatization plan.
One of the left-wing law firms, Labaton Sucharow LLP, announced the lawsuit in a press release later on Thursday.
"This seems like a classic case of fraud," said Michael Canty, a partner at Labaton Sucharow, in the statement. "We believe that Musk attempted to manipulate the price of Tesla securities with false and misleading tweets, in an effort directed to harm the short sellers."
Left refused to comment on the details of the trial. Tesla did not immediately respond to a request for comment.
Tesla shares fell slightly on Thursday.
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