Elon Musk Sued by Twitter Investor Over ‘Fraudulent’ Buyout Flip-Flop
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Elon Musk was sued by a Twitter investor who says the world’s richest person’s on-again off-again purchase of the platform were designed to manipulate its stock price.
Elon Musk was sued by a Twitter Inc. investor who says the world's richest person's on-again off-again purchase of the social-media platform and his public attacks on the company were designed to manipulate its stock price. Giuseppe Pampena says that when Musk agreed last week to go ahead with his purchase of Twitter, at the originally agreed upon price, he “essentially acknowledged that he had been bluffing all along” about backing out of the deal. The flip-flops and Musk's accusations about Twitter sunk its stock price, hurting investors while all the while improving Musk's bargaining position, according t...