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Elon Musk Is Killing The Twitter Deal

Elon Musk announced that he would abandon his tumultuous $44 billion offer to buy Twitter after the company failed to provide enough information about the number of fake accounts. Twitter immediately fired back, saying it would sue the Tesla CEO to uphold the deal. The likely unraveling of the acquisition was just the latest twist in a saga between the world’s richest man and one of the most influential social media platforms, and it may portend a titanic legal battle ahead.

Twitter-Elon Musk Circus: Shareholders Of The Social Media Company Are Seeking A Class-Action Lawsuit Against Billionaire Tesla Founder

In a new lawsuit, Twitter shareholders are suing Elon Musk, alleging that he manipulated the price of the company’s stock for his own benefit in the course of agreeing to buy the company. The lawsuit represents a group of Twitter investors but would allow any shareholders to receive financial compensation. The suit was filed on Wednesday night in federal district court for Northern California and argues that Musk intentionally drove down the company’s stock to secure a better deal.

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