Tesla investors sue Elon Musk for diverting resources, talent to xAI
Shareholders accused Tesla boss Elon Musk of “brazen disloyalty” with his xAI startup that created “billions in AI-related value at a company other than Tesla.”
Tesla shareholders sued CEO Elon Musk and the vehicle maker’s board on Thursday, claiming Musk’s xAI startup is a “competing company” taking artificial intelligence talent and resources from the firm.
It comes the same day shareholders voted to restore Musk’s $44.9 billion pay package that a Delaware judge threw out in January.
Cleveland Bakers and Teamsters Pension Fund, Daniel Hazen and Michael Giampietro filed the June 13 stockholder complaint in Delaware’s Chancery Court on behalf of Tesla.
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Author: Jesse Coghlan
