Tesla Shareholders Launch Class-Action Suit on Musk Tweet Aftermath

The video discusses a lawsuit against Tesla on behalf of investors who bought stock after Elon Musk's tweet claiming funding was secured. The lawsuit claims the tweet caused an artificial inflation of Tesla's stock price. The legal basis is a federal securities law violation, as Musk's public statements were false or made with reckless disregard for the truth. The video also highlights the significant trading volume during the period and the subsequent confirmation that funding was not secured.

What was the volume of Tesla stock trades on August 7, and how does it compare to the running average?

What does the term 'reckless disregard for the truth' imply in the context of this lawsuit?