{"id":71164,"date":"2024-06-12T09:58:07","date_gmt":"2024-06-12T09:58:07","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/06\/12\/elon-musk-faces-fresh-insider-dealing-claim-and-drops-open-ai-lawsuit\/"},"modified":"2024-06-12T09:58:07","modified_gmt":"2024-06-12T09:58:07","slug":"elon-musk-faces-fresh-insider-dealing-claim-and-drops-open-ai-lawsuit","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/06\/12\/elon-musk-faces-fresh-insider-dealing-claim-and-drops-open-ai-lawsuit\/","title":{"rendered":"Elon Musk faces fresh insider dealing claim and drops Open AI lawsuit"},"content":{"rendered":"
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Elon Musk has moved to drop a lawsuit he filed against ChatGPT maker Open AI and learned he is facing a fresh investor claim relating to his sale of Tesla shares.<\/p>\n

The tech billionaire, who had launched his complaint early this year, looked to drop the action just 24 hours before a San Francisco judge was to hear a bid by Open AI<\/strong><\/a> to have the case thrown out.<\/p>\n

He had accused the firm, which he co-founded, and its chief executive Sam Altman of abandoning its original mission of developing artificial intelligence for the benefit of humanity and not for profit.<\/p>\n

Money latest:<\/strong>
The most expensive place to buy a seaside home in the UK<\/strong><\/a><\/p>\n

Mr Musk<\/strong><\/a>, who has AI ventures of his own, has been a fierce critic of the company’s use of artificial intelligence (AI) and hit out this week at Apple’s plans<\/strong><\/a> to integrate AI including ChatGPT into its devices, suggesting he could ban them at his own companies on security grounds.<\/p>\n

He has yet to comment on the reasons for dropping the case.<\/p>\n

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Apple set to integrate AI<\/span>
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It was separately revealed on Tuesday that Mr Musk was facing a separate lawsuit in Delaware brought by an institutional investor in Tesla.<\/p>\n

The Employees’ Retirement System of Rhode Island (ERSRI) claimed he and his brother Kimbal, who is a director of the electric car firm, improperly sold a combined $30bn (\u00a323.5bn)in shares between late 2021 and the end of 2022.<\/p>\n

The lawsuit claims they cashed in ahead of developments that would have caused stock to fall in value became public.<\/p>\n

It alleged Mr Musk sold the shares at artificially inflated prices by concealing his plan to use proceeds to buy social media platform Twitter, which he later renamed X.<\/p>\n

He was also said to have sold Tesla stock when he knew deliveries of Tesla cars had fallen far below public projections, the lawsuit added.<\/p>\n

Mr Musk and Tesla were yet to comment on the action, which further alleged poor governance and inappropriate actions including diverting Tesla employees to work at X and causing Tesla to start paying for advertising on Twitter.<\/p>\n

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Tesla shareholder Michael Perry filed a similar action last month alleging insider dealing by Mr Musk, who is already facing a regulatory investigation over his purchase of Twitter.<\/p>\n

News of the latest lawsuit was revealed two days before Tesla shareholders are due to vote on whether to reinstate Mr Musk’s $56bn pay package after a Delaware judge voided it in January because she found he had improperly controlled the process.<\/p>\n<\/p><\/div>\n


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Elon Musk has moved to drop a lawsuit he filed against ChatGPT maker Open AI and learned he is facing a fresh investor claim relating to his sale of Tesla shares. The tech billionaire, who had launched his complaint early this year, looked to drop the action just 24 hours before a San Francisco judge […]<\/p>\n","protected":false},"author":2,"featured_media":71165,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/e3.365dm.com\/24\/06\/768x432\/skynews-apple-technology-ai_6578326.jpg?20240611025943","fifu_image_alt":"","footnotes":""},"categories":[607],"tags":[7973,36491,4942,2534,4408,728,22001,2474,6039,39],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/71164"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=71164"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/71164\/revisions"}],"predecessor-version":[{"id":71166,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/71164\/revisions\/71166"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/71165"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=71164"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=71164"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=71164"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}