Tesla Investor Sue Elon Musk For His 500,000 Cars Tweet

Elon Musk, will your Twitter antics ever stop? Because it’s got you in trouble again.

On Friday, investors sued Elon Musk, with law firm Grant & Eisenhofer as their representative. The law firm accused Musk of repeatedly posting misstatements via his Twitter account before getting them checked, which has caused harm to not only Tesla but also its shareholders.

Tesla didn’t respond immediately to a comment request.

According to the lawsuit filed to Delaware Court of Chancery, investors want to stop the Tesla CEO’s “unchecked use of Twitter to make inaccurate statements” about the company. The aforementioned law firm represents Contractors’ Pension Fund of Ohio and the Laborers’ District Council.

In August last year, the SEC sued Musk after his misleading tweet about taking Tesla private. The tweet surfaced to the surprise of the company’s board of directors, investors, and analysts. The CEO had to backtrack on the statement then. In September, the case was settled with Musk agreeing to pay a financial fine of $20 million as well as stepping down from the BOD, but remained his position as the CEO of the company.

Earlier this year, in February, Musk was in trouble again when the SEC requested a court to hold him in contempt after he tweeted that Tesla will manufacture somewhat 500,000 cars within 2019.

Micheal Barry, director of Grant & Eisenhofer stated that Musk has repeatedly disregarded all the efforts made to rein in his handling of social media. Barry also stressed that Elon Musk ignored federal court orders in a case settlement with the SEC while the policy of his company itself requires his Tesla-related tweets to be checked before going online publicly.

Grant & Eisenhofer also revealed that a public version of this suit that they filed under seal is expected to be available by March 12.