Investors sue Elon Musk for manipulating Twitter’s share price
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Investors sue Elon Musk for manipulating Twitter’s share price

Investors sue Elon Musk

Investors sue Elon Musk – Billionaire Elon Musk is being sued by a group of Twitter investors. They believe that he manipulated the company’s share price.

Musk has already agreed with the board of Twitter to buy the company for 44 billion dollars (more than 42 billion euros) and take it off the stock exchange.

Recently, however, he announced that he was pausing the deal, because he first wants more clarity about the number of spam accounts on the social medium.

The indictment, which has been filed with a judge in California, states that Musk did this on purpose to sow doubt about whether he still wants to buy Twitter.

The company’s market value then dropped by $8 billion, which would allow him to renegotiate the purchase price.

According to the investors, Musk’s behavior is illegal. It would also go against the contractual terms of the deal, to which he has agreed. Twitter and Musk have not yet responded to the indictment.

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The lawsuit was started by a small group of shareholders. They are demanding damages, which must be distributed to anyone who owns shares of the company.

Investors sue Elon Musk for manipulating Twitter’s share price

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