It is unknown at this time what he will do after leaving the post.
Just when we thought Elon Musk would have the right to brag about being the new owner of Twitter, things have changed completely, and now the South African is being sued by the website’s shareholders, according to Deadline.
A class action lawsuit has been filed against Musk, accusing him of “unjust enrichment, misrepresentation and manipulation of actions in an attempt to reduce or fail to pay the $ 44 billion” with which they had previously settled.
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While raising funds, Tesla Motors CEO got a bank loan after pledging billions of dollars in Tesla shares, but a month after the announcement of its acquisition, the company’s shares fell.
The lawsuit alleges that Musk started at the same time. “[making] false statements and [engaging] in the manipulation of the Twitter stock market, publicly declaring that the deal had been put “on hold”.
Elsewhere, it is noted that the engineer did not disclose his 9.2 percent stake in Twitter when he was forced to do so, prompting an SEC investigation. “Musk first agreed to join Twitter’s board as an ally, then overturned that decision in favor of a takeover bid and threatened to be hostile if Twitter did not accept,” the Deadline report states.
Shareholders have yet to authorize the purchase of Musk; this will take place at a special meeting that has not been scheduled.
As he navigates the terrible difficulties he has encountered with Twitter, the 50-year-old has been making more positive headlines thanks to The Kid Laroi, who revealed some financial advice he received from Mr. Musk at a post-Saturday Night Live party: Read on. more on that here, and let us know if you think Elon will still make his big purchase in the comments section below.
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