07:53 AM EDT, 06/14/2024 (MT Newswires) -- Tesla (TSLA) faces multiple lawsuits in Delaware Chancery Court as Elon Musk's plans to relocate the company to Texas prompt shareholder discontent, Bloomberg reported late Thursday.

At least three lawsuits were filed in the court during the week, alleging various forms of mismanagement by Musk, Bloomberg said.

Allegations include claims of using coercive tactics related to Tesla's move and his compensation package, diverting resources towards personal initiatives like a failed attempt to acquire Twitter in 2022, and prioritizing his AI startup over Tesla's interests.

Tesla didn't immediately respond to an MT Newswires request for comment on the suit.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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