Elon Musk: “Something needs to be done about the shareholder derivative…”

“The public is, I guess, a way to potentially make more money, but at the expense of a lot of public company overhead and inevitably a whole bunch of lawsuits, which are very annoying. So really Something needs to be done about the shareholder derivative lawsuits in the US. because it allows plaintiffs law firms who don't represent the shareholders to pretend that they represent the shareholders by getting a puppet plaintiff with a few shares to initiate a massive lawsuit against the company.” (13:04–13:09)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.