Published 2 years ago

Elon Musk Sued By Second Group of Twitter Shareholders

Summary by Ground News

Elon Musk is facing yet another lawsuit over his planned Twitter acquisition. Investors have sued the Tesla CEO for allegedly manipulating stock prices ahead of his $44 billion takeover bid. Musk supposedly saved $156 million by failing to disclose that he'd bought more than a 5 percent stake in Twitter by March 14th.

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Times of India

musk: Twitter shareholders sue Elon Musk, say he 'deflated' stock price

The lawsuit filed late Wednesday in the US District Court for the Northern District of California claims the billionaire Tesla CEO has sought to drive down Twitter’s stock price because he wants to walk away from the deal or negotiate a substantially lower purchase price. “By delaying his disclosure of his stake in Twitter, Musk engaged in market manipulation and bought Twitter stock at an artificially low price,” the lawsuit says.

2 years ago·India

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BBC News

Twitter investor sues Elon Musk and platform over takeover bid

The lawsuit alleges the multi-billionaire's "wrongful conduct" has caused Twitter shares to plunge.

2 years ago·United Kingdom

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News18 India

Twitter Shareholders File Lawsuit Against Elon Musk for Manipulating Stock Price

The suit alleges billionaire Tesla boss Elon Musk tweeted and made statements intended to create doubt about the Twitter deal

2 years ago·India

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The Guardian

Elon Musk sued by Twitter investors for delaying disclosure of stake

Investors say Musk saved himself $156m by failing to disclose that he had purchased more than 5% of Twitter by 14 March

2 years ago·London, United Kingdom

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The Hindu

Musk sued by Twitter investors for delayed disclosure of stake

“Mr. Musk engaged in market manipulation and bought Twitter stock at an artificially low price.”

2 years ago·India

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CTV News

Twitter shareholders sue Musk, say he 'deflated' stock price

Twitter shareholders have filed a lawsuit accusing Elon Musk of engaged in 'unlawful conduct' aimed at sowing doubt about his bid to buy the social media company.

2 years ago·Canada

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