A second group of Twitter shareholders sued Elon Musk

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 A second group of Twitter shareholders sued Elon Musk


On Wednesday, Twitter shareholders filed another class action lawsuit against Elon Musk for violating corporate laws and damaging Twitter's share price.
Elon has been sued by other shareholders on Twitter
The current lawsuit is similar to a class action lawsuit filed by a shareholder on Twitter in April in New York. In both cases, CEOs of Tesla and SpaceX have been accused of failing to buy a 5% investment in Twitter shares in mid-March. While Musk is accused of violating U.S. Securities and Exchange Commission requirements by failing to report within 10 days, a complaint filed on Wednesday alleges the same failure is against California company law. . According to the lawsuit, Musk was able to buy the shares at a lower price with a delay and save $ 156 million. Musk is also accused of multiple violations of the law in a second-class lawsuit, including failing to disclose his plan to join Twitter's board and buy shares based on insider knowledge gained through interactions with others. One of them is former Twitter CEO Jack Dorsey, who resigned from the board on Wednesday.
The allegation accuses Muska of illegal conduct primarily in order to protect himself from financial risks, because the share price of Twitter fell after his attempt to buy the company.
Serious accusations against Him
Musk then continued to make statements, sending tweets and engaging in behavior designed to increase skepticism about the agreement. And he significantly reduced Twitter shares to create the leverage Musk wants to use. Take back to take. No one. Or renegotiate the purchase price by up to 25%, which, if achieved, will result in a $ 11 billion redemption check, "according to the lawsuit." with the terms and conditions with which he has agreed in the settlement, as described above. "

Twitter was silent on the subject. Elon Muska's spokesman did not respond to the request for comment at the time of publication.

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