Has my stock been accused of fraud?Join over 160k users who know.

Ticker Price Change($) Change(%) Shares Volume Prev Close Open Gain($) Gain(%)
Ticker Status Jurisdiction Filing Date CP Start CP End CP Loss Deadline
Ticker Case Name Status CP Start CP End Deadline Settlement Amt
Ticker Name Date Analyst Firm Up/Down Target ($) Rating Change Rating Current

News

Elon Musk Unfollows Tesla Investor Sawyer Merritt Over Alleged Confidential Information Leak: 'Don't Post … And Expect Me To Follow'

Author: Ananya Gairola | April 30, 2024 10:32pm

Elon Musk has unfollowed prominent Tesla Inc. (NASDAQ:TSLA) investor Sawyer Merritt on X, formerly Twitter, due to an alleged breach of confidentiality.

What Happened: On Tuesday, a user on X, who goes by the name Brandon Smith on the platform, questioned Musk about this move stating that Merritt often breaks news about Tesla that employees don’t disclose to the tech billionaire.

Musk responded, “Don't post leaks of confidential information and expect me to follow.” 

See Also: Goldman Sachs Tempers Investor Excitement On Tesla Self-Driving Tech In China: ‘Not Yet An Eyes-Off, Unsupervised Product’

Smith then defended Merritt, stating that if Merritt had received confidential information directly, he wouldn’t have posted it. He also requested Musk to give Merritt another chance. 

Not just Smith, but many other users on X defended Merritt. On the other hand, some people deduced that Merritt “amplified Elon's leaked email” and allegedly disclosed information about layoff. At the time of writing, Musk still wasn’t following Merritt.

Subscribe to the Benzinga Tech Trends newsletter to get all the latest tech developments delivered to your inbox.

Benzinga reached out to Merritt and he pointed us toward his explanation on X.

Why It Matters: Merritt, a well-known Tesla investor, has been in the spotlight for his outspoken support of the company and its CEO. In March 2024, Merritt defended Musk against an op-ed that labeled him a “mediocre white man.”

He also led a petition supported by Tesla, urging the U.S. auto safety regulator to reconsider classifying over-the-air software updates for safety concerns as “recalls.”

Just earlier this week, Merritt humorously mocked a Tesla bear, Gordon Johnson, after the company’s stock surged, signaling validation for Musk’s leadership.

Merritt’s actions have often aligned with Musk’s vision, making this unfollowing incident all the more surprising.

Despite the unfollowing, it’s important to note that this incident does not necessarily indicate a significant rift between Musk and Merritt. However, it does raise questions about the handling of confidential information within the Tesla community.

Check out more of Benzinga’s Consumer Tech coverage by following this link.

Read Next: Mark Zuckerberg Shades Apple Vision Pro Once Again, Calls It ‘Fashionable AI Glasses Without A Display’

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

Posted In: TSLA

CLASS ACTION DEADLINES - JOIN NOW!

NEW CASE INVESTIGATION

CORE Finalist