Elon Musk sued by Twitter shareholders for 'market manipulation'

Elon Musk faces a lawsuit accusing him of pushing down Twitter's stock price in order to either give himself an escape hatch from his US$44 billion buyout bid, or room to negotiate a discount.

Mr Musk negotiated his Twitter buyout in late April without carrying out due diligence expected in such deals, according to the suit filed by William Heresniak of Virginia. The suit argues Mr Musk was well aware that some Twitter accounts were controlled by software "bots" rather than real people, and had even tweeted about it prior to making his offer to buy the company.

"Mr Musk's market manipulation worked - Twitter has lost $8 billion in valuation since the buyout was announced," stated the claim.

His tweets does cause certain things to happen. Just think about his older posts about a certain bitcoin and how that affected their value. Speculative tweets to influence the market views. His not the only account though. It’s interesting to follow them no matter your views.

and he probably did

Can’t remember who said this but, ‘Some people have too much money and not enough brain cells.’

🤣

so, musk doing what musk does best? Literally the same thing he does with tesla stock on a very common basis.

Oh SBS you have done it again! 👏

Wasn't/isn't he planning on buying it, or was he just joking?

Leftist tears are sweet 🤣

But the deal *is* in doubt. Congress may try to stop the deal, and then there’s the % of bots on the platform which inflate numbers of the actual user base.

Hope they destroy the snake oil salesman an conman

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

NBN claims Musk’s Starlink is wrecking its business, as telcos slam price hikesThe ACCC has criticised an NBN plan to raise prices, claiming it would result in a doubling of the cost of entry-tier internet plans over the next decade and ongoing price rises until 2040. | zoesam93 zoesam93 Our new government has inherited an infrastructure debacle that will take time to fix. Increasing the cost of access to the NBN is wrongheaded. zoesam93 This is obviously an attempt to object to the increasing number of people converting to solar. To say that poles & wires make up 50% of a bill only indicates that all of this structure should have been put underground where little can affect it, therefor no risk to poles etc.
Source: theage - 🏆 8. / 77 Read more »

NBN claims Musk’s Starlink is wrecking its business, as telcos slam price hikesThe NBN claims competition from Elon Musk’s Starlink and other wireless operators is threatening the viability of its business.
Source: brisbanetimes - 🏆 13. / 67 Read more »

NBN claims Musk’s Starlink is wrecking its business, as telcos slam price hikesThe NBN claims competition from Elon Musk’s Starlink and other wireless operators is threatening the viability of its business. zoesam93 Must be a pretty shitty business model zoesam93 Lol maybe NBN needs to do better... zoesam93 Dear NBN_Australia — simply put, do better! Your network deserves to be shown up for the joke that it is. It was barely good enough and then incrementally delivered to lesser and lesser standards.
Source: smh - 🏆 6. / 80 Read more »