| Twitter shareholders are suing Elon Musk and the social network itself because of the "chaotic process" of the company's takeover. They claim that the head of Tesla violated the law and manipulated the market, writes CNBC.
According to the plaintiffs, the entrepreneur benefited financially by delaying the disclosure of his stake on Twitter and temporarily hiding his plan to become a board member of the social network.
The lawsuit also alleges that Musk bought shares in the company with insider information.
Shareholders believe that the head of Tesla violated the laws of the state of California, "sowing doubt" in closing the deal. The initiators of the lawsuit believe that the suspension of the purchase of the company due to the possible high proportion of fake Twitter accounts was part of the scheme. In their opinion, in this way Musk wanted to get better conditions or disrupt the deal.
Shareholders are confident that the tweets and statements of the entrepreneur were aimed at reducing the company's shares.
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