NYC Comptroller Pushes for Tesla Suit as Stock Hits Pensions (1)

New York City Comptroller Brad Lander is pushing for the city to file a shareholder lawsuit against Tesla Inc., alleging the automaker misstated how much CEO Elon Musk’s work for the Trump administration has pulled him away from the company.

Lander said that Tesla made material misstatements to shareholders by maintaining Musk is spending significant time on the company despite his job as the head of President Donald Trump’s so-called Department of Government Efficiency, the new entity charged with slashing federal spending. Lander serves at the investment adviser to the city’s five pension funds.

Tesla stock has ...