Hedge Fund News From HedgeCo.Net


Hedge funds step up to lead shareholder suit against Tesla:

(Daily Mail) A pair of offshore hedge funds that claim to have lost more than $15 million to cover short positions in Tesla have asked for court approval to lead consolidated private securities fraud litigation against the carmaker.

The Tempus International Fund and the Opportunity Unique Fund, which are both managed by Brazil´s Opportunity Gestão de Investimentos e Recursos Ltda, were among more than a dozen Tesla investors to file motions Tuesday night in federal court in San Francisco, where U.S. District Judge Edward Chen is overseeing lawsuits alleging that Tesla CEO Elon Musk deceived shareholders when he tweeted on Aug. 7 that he had secured funding to take the company private at $420 per share.

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