Billionaire businessman Elon Musk has been on the agenda for a while with his move to buy Twitter. Although the developments are confusing, Musk seems to be in court due to Twitter before the purchase takes place. Because, according to the latest information, a group of Twitter shareholders sued Elon Musk. The reason for this lawsuit is that Elon Musk is thought to have manipulated Twitter shares.
Elon Musk made a statement suggesting that he gave up on buying Twitter a while ago. According to this statement, a significant portion of the accounts on the platform were fake, which was not suitable for a purchase agreement. The billionaire businessman said he needed calculations and documents showing that the fake account rate was less than 5 percent. The plaintiff shareholders allege that Elon Musk deliberately made such statements and tried to lower Twitter shares.
“What’s been done is illegal!”
According to the allegations in the complaint document, the statements made by Elon Musk violate the law. Because his negative statements do not comply with the provisions of the Twitter acquisition agreement. All these allegations have reached the federal district court in the state of San Francisco for review.
Twitter did not make any statement about the incident. When we look at Elon Musk’s Twitter account, we see that he did not say anything about the subject. No one knows how the investigation will progress and what Elon Musk will face at the end of this job.
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