Elon Musk Sued for Alleged $7.5 Billion Insider Trading in Tesla Shares

Lawsuit claims Musk sold shares before underwhelming production data was released, netting $3 billion in profits.

Tesla shareholder Michael Perry filed the lawsuit in Delaware Chancery Court.
Perry alleges Musk used non-public information to sell shares in November and December 2022.
The lawsuit demands Musk return the profits made from these trades.
Tesla's stock dropped significantly after the production data was made public in January 2023.
Musk is also dealing with other legal and regulatory challenges, including a voided $56 billion pay package.