Saturday, May 28, 2022

Twitter Shareholders Musk Lawsuit

Twitter Shareholders have filed a Lawsuit accusing Elon Musk of engaging in Unlawful Conduct aimed at sowing doubt about his bid to buy the campany.

The Lawsuit, filed late Wednesday in the U.S. District Court for the Northern District of California, claims Musk, the billionaire Telsa chief, 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.

Twitter is also named as a Defendant in the Lawsuit, which seeks Class Action status as well as Compensation for Damagers.

Musk offered to buy Twitter last Month for $44 billion, but later said the Deal could Not go forward until the company provided information about how many of its Accounts are Spam or Bots. The Lawsuit notes Musk Waived Due Diligence for his Take it or Leave it offer to buy Twitter.

NYC Wins When Everyone Can Vote! Michael H. Drucker

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