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Oracle, Tesla Sued By Investors

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Shareholders unhappy with drops in their stock prices filed separate Bay Area lawsuits Friday against Tesla and Oracle. Tesla and CEO Elon Musk were sued by an investor over wild share price swings after Musk tweeted Tuesday that he was considering taking the company private at a price of $420, and that funding was secured. Tesla’s stock shot up the next day, then faded the rest of the week. The complaint, filed Friday as a class action in federal court in San Francisco, alleges violations of U.S. securities law.

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