Elon Musk sued by Twitter shareholders for alleged stock manipulation
Image Credit: wsj
Elon Musk was sued by Twitter investors for delaying the disclosure of his stake in the company, as the Tesla owner mounts a $44bn takeover bid for the social media platform. The investors said Musk saved himself $156m by failing to disclose that he had purchased more than 5% of Twitter by 14 March. The suit further alleges the billionaire Tesla boss tweeted and made statements intended to create doubt about the deal.