Azerbaijan news

Twitter shareholders have sued Elon Musk and Twitter itself

It turned out that Twitter shareholders Elon Muskand Twitter sued themselves. In this way, they expressed their dissatisfaction with the chaotic process of the deal to sell Twitter to Musk. As a result of the agreement, the value of Twitter shares fell. In a collective lawsuit filed by shareholders, Musk is accused of violating some articles of California’s corporate law and manipulating the stock market. According to one of California’s corporate breaches, Musk provided untimely information about his stake in Twitter and plans to acquire the company in an attempt to make a profit.

In addition, the lawsuit states that Musk is a former CEO of Twitter Jack Dorsey and Twitter’s board of directors Egon Durban (Solver Lake Partners based on insider information obtained by one of the heads of the investment company) social began buying shares in the network. The plaintiffs allege that Musk social violated California law by suspending Twitter purchases, citing the number of real users on the network. According to reports, after the start of the contract process between Twitter and Musk social the value of the shares of the network 12%, Tesla while the value of the company’s shares 28% fell down.

Azerbaijan news

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