A Twitter investor has sued Elon Musk and social media over the handling of the billionaire’s $ 44 billion bid to buy the company.
According to the BBC, the investor claims that Musk’s actions violated a number of California corporate laws in various ways.
In particular, he accuses the Tesla boss of “wrong behavior“As” his false statements and market manipulation have created chaos at Twitter headquarters in San Francisco “, while the shares of the social networking site have lost about 27% of their value from Musk’s offer price at 54 , $ 20.
The proposed group lawsuit was filed a few days ago in the U.S. District Court in California by investor William Jeresniak, who said he was acting “on behalf of himself and everyone else in a similar position.”
According to the lawsuit, Musk benefited financially by delaying revealing that he was claiming a significant stake in Twitter and that he planned to become a member of the company’s board of directors.
He also claimed that many tweets posted by Musk, who is a regular Twitter user with more than 95 million followers, were “misleading”.
The plaintiff considered the post misleading, in which Musk wrote that the its takeover bid due to its doubts about the number of fake accounts on the platform.
The May 13 tweet “was an attempt to manipulate the market for Twitter shares as he knew about fake accounts,” the lawsuit said.
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