CALIFORNIA: Elon Musk 's bombshell announcement that he is thinking of taking the electric car company Tesla private has landed him a lawsuit from unhappy investors. The American entrepreneur said on Tuesday that de-listing from the stock exchange could be the "best path forward" for the firm. His comments caused the share price to shoot up 11% to nearly $380, though it has since fallen back. Short-sellers, who bet on share price falls, allege he misled the market. Mr Musk, Tesla's founder and chief executive, announced that he might take the company private in a deal worth $72 billion, valuing the company at $420 a share. However, he did not specify exactly where the money for such a deal, which would be the largest of its kind for more than a decade, would come from.