NYC Comptroller Lander Lauds AFT President for Call to Hold Tesla Accountable Day After Comptroller Calls for Legal Action

A day after New York City Comptroller Brad Lander called to moved forward on securities litigation against Tesla, the American Federation of Teachers (AFT) doubled down on calls to hold Tesla accountable for Elon Musk pledging large amounts of Tesla shares as loan collateral. Comptroller Lander released the following statement: 

“AFT President Randi Weingarten is right—Elon Musk’s absentee leadership at Tesla is failing workers and investors. I echoed these concerns in my call yesterday for the New York City Law Department to pursue legal action against Tesla for materially misrepresenting Musk’s role in the company. The Tesla board has failed at its most basic responsibilities: no independent oversight, no full-time CEO, and no enforcement of its own rules regarding Musk’s use of Tesla shares as loan collateral. These management and governance failures have caused Tesla stock to plummet. I stand with President Weingarten in demanding full transparency from Tesla about these loans and will continue fighting to hold the company accountable to protect investors.” 

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