Elon Musk sued by Twitter shareholders over delay in disclosing stake | Business News | WION
Elon Musk was sued on Tuesday by former Twitter shareholders who claim they missed out on the recent run-up in its stock price because he waited too long to disclose a 9.2% stake in the social media company.
#ElonMusk #Twitter #Business
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Okay so let me start from the beginning. First, this guy used some media outlets to signal starting his own social media company. Then the media said he’s buying a twitter stake instead. Next the media says if he takes a board seat then he’ll be limited to a 15% stake. Then he buys bots on Twitter to say rejecting a board seat means he could buy up twitter. Now he offers 40 billion to buy Twitter while Jack Dorsey is told in secret to reject his offer. The media signals that he’s going to reconsider his 9% stake if he’s rejected. It’s a inside deal between Musk and Dorsey to pump and dump the stock then share the profits. You wanna bet that he’s gonna get rejected and sell before the news on it breaks? All the people flocking to buy twitter to pump the stock for him will get screwed. Martha Stewart went to prison for less.