Twitter investors sue Elon Musk, purchase offer platform

According to their claims, he violated California corporate laws in a number of ways.

They accuse Tesla's chief of misbehaved since his false statements and market manipulation have created chaos” at Twitter headquarters in San Francisco”.

Twitter shares are about 27% lower than Mr. Musk's $54,20 bid price.

The indictment reportedly benefited financially by delaying his discovery of key shares on Twitter and his plan to become a board member of the company.

According to the plaintiffs, several tweet posts posted by Musk, who is a regular Titter user with more than 95 million followers, were “fraudist”.

This included a post in which Musk said his offer to take over the social media firm was pending because of his doubts about the number of false accounts on the platform.

May 13th Tweet “constituted an attempt to manipulate the market for Twitter shares, as he knew of the false accounts”, the indictment said. /A2 CNN