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Levi & Korsinky, LLP announces it has commenced a derivative suit in Delaware state court against certain insiders of Tesla Motors, Inc. (NASDAQ: TSLA).
The complaint alleges, among other allegations, that Elon Musk and certain other insiders violated their fiduciary duties by engaging in self-dealing, rather than acting in the interest of shareholders. In particular, the complaint alleges that Musk used his influence over Tesla’s Board to engineer a bailout to SolarCity, a Company founded by his cousins, and for which he serves as chairman and investor.
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