Home News Elon Musk, sued by Twitter shareholders. What charges are being brought...

Elon Musk, sued by Twitter shareholders. What charges are being brought against him


Investors say Musk saved $ 156 million because he did not disclose that he bought more than 5% of Twitter by March 14th.

After that, he continued to buy shares and finally revealed in early April that he owns 9.2% of the company.

“By postponing the disclosure of his participation in Twitter, Musk became involved in market manipulation and bought Twitter shares at a low artificial price,” said investors, led by Virginia shareholder William Heresniak.

Musk allegedly bought the shares, the lawsuit alleges insider trading information based on private conversations with board members and directors, including former CEO Jack Dorsey, a longtime friend of Musk, and co-CEO Silver Lake. Egon Durban, a Twitter board member whose company previously invested in SolarCity before Tesla bought it, according to CNBC.

Read:   Gas prices in Europe fall below $ 900 per thousand cubic meters for first time in February

The lawsuit comes after Musk, the owner of electric car maker Tesla, said he plans to take over Twitter for $ 44 billion.

If you like this article, we look forward to joining the community of readers on our Facebook page, with a Like below:

Previous articleWB Chief: The severity of the global crisis depends on the possibility of finding new sources of energy
Next articleRubles for gas: Countries that have paid so far and those that have refused. How dependent some states are