Investors sue Tesla and Elon Musk again

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Enough with the tweets already.

That’s the message a group of institutional investors in Tesla is sending the electric-car maker and chief executive Elon Musk in broadening its claim against him on Thursday, saying his “repeated mis-statements” continue to harm the company and its shareholders.

Elon Musk's Twitter habit has already cost the CEO and Tesla $US40 million ($56.5 million) in fines and forced Musk to give up his role as chairman.

Elon Musk’s Twitter habit has already cost the CEO and Tesla $US40 million ($56.5 million) in fines and forced Musk to give up his role as chairman.Credit:Bloomberg

Their new lawsuit, filed in Delaware Chancery Court, seeks to permanently block Musk’s “unchecked use of Twitter to make inaccurate statements about the company”, lawyers for one of the investors, the Laborers’ District Council and Contractors’ Pension Fund of Ohio, said in a statement.

After tweeting last year that he had secured funding for a plan to take the company private, Musk allegedly stepped over the line again in February by estimating on Twitter that Tesla would produce about half a million vehicles this year.

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