Musk in the storm: 258 billion lawsuit for Dogecoin, accusations in Tesla and the Twitter affair

Employees of the social network on alert after announcements about reorganization and layoffs. The manager in the crosshairs of investors: complaints for fraud and discrimination 17 Jun 2022

Day of fire for Elon Musk: in one fell swoop the manager ends up in the crosshairs of Twitter employees – following the meeting from which the hypothesis of a reorganization plan that would provide for layoffs emerged – and above all of the investor Keith Johnson who accuses him of fraud and manipulation of the price of the Dogecoin cryptocurrency by starting a lawsuit of 258 billion. And last but not least, a Tesla shareholder sued automaker Musk and the board of directors for neglecting allegations of discrimination and harassment. Index of topics • Dogecoin and the $258 billion lawsuit • The meeting with Twitter employees and the dismissal alarm • Allegations of abuse and discrimination in Tesla • Tesla, car prices up to 6 thousand dollars Dogecoin and the $258 billion lawsuit To file a lawsuit against Musk is the investor Keith Johnson, according to whom Musk has pushed up the price of the Dogecoin cryptocurrency by promoting it for his "profit and fun" by exploiting a "pyramid scheme" that would have allowed a "manipulation" of the value of the cryptocurrency. Johnson is asking Musk and the companies Tesla and Space X for 258 billion dollars, of which 86 billion quantified as losses related to the year 2019 and 172 billion in damages. "The defendants falsely claim that Dogecoin represents a legitimate investment, while it has no value, and does not pay any interest or dividend: it is simply a scam," reads the documents filed with the court following the complaint filed by Keith Johnson.

The meeting with Twitter employees and the dismissal alarm In a video conference with Twitter employees to take stock of the $44 billion acquisition , Elon Musk said he wanted to "significantly increase" the platform's users, without excluding the prospect of layoffs. This was reported by the Wall Street Journal. "At the moment the costs are higher than the revenues and it is not a positive situation, the company needs to get back to health: in any case, anyone who contributes to the company in a concrete way has nothing to fear". Musk said he targets "at least one billion people on Twitter" from the current 229 million or so. "We need to find a balance to allow people to say what they want to say, but also to put people at ease on Twitter, otherwise they simply won't use it." Allegations of abuse and discrimination at Tesla Tesla shareholder Solomon Chau sued electric car maker Elon Musk and his board, accusing them of neglecting to address complaints of discrimination and harassment in the workplace and generating a "toxic culture." The lawsuit is the latest against Tesla, which has been accused of racial discrimination and sexual harassment in its factories. "Tesla has created a toxic workplace culture based on racist and sexist abuse and discrimination against its employees," investor Chau said. Tesla, car prices up to 6 thousand dollars To stay at Tesla, automaker Tesla has decided to raise the prices of some models to $6,000 to cope with rising costs and supply issues. The increases concern the long-wheel drive models, 3, Y and X. The company had already raised prices in March. Tesla also according to data released by the US automotive safety regulators is first in the ranking of accidents that see assisted driving cars as protagonists with 273 accidents since July last year out of a total of 400 detected. Honda Motor reported 90 accidents, Alphabet's self-driving car unit, Waymo 62 incidents involving automated driving systems, while General Motors' Cruise had 23.