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{"id":6671,"date":"2022-05-27T14:37:59","date_gmt":"2022-05-27T14:37:59","guid":{"rendered":"https:\/\/scienceandnerds.com\/2022\/05\/27\/twitter-shareholder-sues-elon-musk-for-tanking-the-companys-stock\/"},"modified":"2022-05-27T14:38:00","modified_gmt":"2022-05-27T14:38:00","slug":"twitter-shareholder-sues-elon-musk-for-tanking-the-companys-stock","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2022\/05\/27\/twitter-shareholder-sues-elon-musk-for-tanking-the-companys-stock\/","title":{"rendered":"Twitter shareholder sues Elon Musk for tanking the company\u2019s stock"},"content":{"rendered":"

Source: https:\/\/www.theverge.com\/2022\/5\/26\/23143148\/twitter-shareholder-lawsuit-elon-musk-stock-manipulation<\/a>
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A new lawsuit on behalf of Twitter shareholders was filed against Elon Musk in federal district court in San Francisco on Wednesday night, alleging that the Tesla CEO has actively manipulated the company\u2019s stock for personal gain. <\/p>\n

The complaint<\/a> focuses on Musk\u2019s conduct since signing the purchase agreement with Twitter\u2019s board on April 25th, particularly his recent statement<\/a> that the deal \u201ccannot move forward\u201d without more information about automated accounts on the platform.<\/p>\n

After signing the agreement, the complaint alleges, \u201cMusk proceeded to make statements, send tweets, and engage in conduct designed to create doubt about the deal and drive Twitter\u2019s stock down substantially in order to create leverage that Musk hoped to use to either back out of the purchase or re-negotiate the buyout price.\u201d <\/p>\n

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