Twitter shareholders sue Elon Musk for stock price manipulation

Since the billionaire Elon Musk Recommend to buy the whole set TwitterShares of the social networking platform fell more than 12%, while Tesla stock plunged more than 40%.

In a class-action lawsuit filed in the Northern District Court for the Northern District of California this week, Twitter shareholders accuse Elon Musk of violating several provisions of California’s corporate law and of seeking to manipulate the market.

They allege Musk benefited financially by delaying the disclosure of his ownership stake in Twitter in accordance with regulations and concealing his plans to become a board member of this social network in early April.

Twitter and Musk have both declined to comment on the matter.

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