US EditionElon Musk must face fraud lawsuit over disclosure of Twitter stake
- A judge ruled that a class-action lawsuit against Elon Musk can proceed in federal court regarding his Twitter stake disclosure.
- Former Twitter shareholders claim they lost money due to Musk failing to disclose his stake in Twitter on time.
- The plaintiffs allege they sold Twitter shares at artificially deflated prices because of Musk's lack of transparency.
- Judge Andrew L. Carter noted Musk's tweet on March 26, 2022, misdirected the public about his Twitter purchases.
57 Articles
57 Articles
Lawsuit claims Musk failed to make promised payments over 2024 petition signatures
PHILADELPHIA (AP) — A federal lawsuit filed Tuesday in Pennsylvania accuses billionaire Elon Musk and the political action committee he started of failing to pay a suburban Philadelphia man more than $20,000 for getting people to sign a petition in favor of free speech and gun rights. The lawsuit seeking class-action status claims the man, referred to as Bucks County resident John Doe and requesting to remain anonymous, received hourly pay for c…
Judge rejects Elon Musk's bid to dismiss lawsuit over delayed Twitter investment disclosure
Plaintiffs led by the Oklahoma Firefighters Pension and Retirement System said Musk ignored an SEC deadline of March 24, 2022 to reveal he had bought 5% of Twitter shares, and waited 11 more days before revealing his 9.2% stake in an SEC filing
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