Twitter Investor Sues Elon Musk over Takeover Bid
about 3 years in Mckoys News
A Twitter investor is suing Elon Musk and the social media platform over the handling of the billionaire’s $44bn (£34.9bn) bid for the company. The case alleges he violated California corporate laws in a number of ways. It accuses the Tesla boss of “wrongful conduct” as his “false statements and market manipulation have created ‘chaos’ at Twitter’s headquarters in San Francisco”. Twitter shares are around 27% lower than Mr. Musk’s $54.20 offer price. The proposed class action lawsuit was filed this week at the US District Court for the Northern District of California by investor William Heresniak, who said he…