Elon Musk must face Twitter shareholders' lawsuit over alleged securities fraud
A proposed class-action lawsuit against Elon Musk and his family office Excession can proceed in federal court, a judge ruled Friday, after the tech centi-billionaire sought to have the case dismissed.
The case is Rasella v. Musk (Case No. 1:22-cv-03026-ALC-GWG) in the Southern District of New York.
The lawsuit was brought by former Twitter shareholders who allege they lost money when the Tesla and SpaceX CEO was amassing a stake in the social network, but failed to disclose his purchases within a legally-mandated time frame.
The Oklahoma Firefighters Pension and Retirement System and other plaintiffs in the suit complained that they had sold shares of then publicly-traded Twitter at "artificially deflated prices," while Musk obscured his own interest and stake in the company.
https://www.msn.com/en-us/money/companies/elon-musk-must-face-twitter-shareholders-lawsuit-over-alleged-securities-fraud/ar-AA1BSi23
Lock his ketamine addled ass up.