For reprint rights or to purchase a copy of your Daily Journal photo, email Jeremy_Ellis@dailyjournal.com for prices or call 213-229-5424.

To buy more copies, call 866-531-1492 or email subscribe@dailyjournal.com
This is the property of the Daily Journal Corporation and fully protected by copyright. It is made available only to Daily Journal subscribers for personal or collaborative purposes and may not be distributed, reproduced, modified, stored or transferred without written permission. Please click "Reprint" to order presentation-ready copies to distribute to clients or use in commercial marketing materials or for permission to post on a website. and copyright (showing year of publication) at the bottom.
Subscribe to the Daily Journal for access to Daily Appellate Reports, Verdicts, Judicial Profiles and more...

Technology,
Securities

May 27, 2022

Elon Musk is manipulating Twitter stock, lawsuit says

Plaintiffs’ attorney Anne Marie Murphy accused the billionaire of making statements to drive down the price of Twitter stock, which he agreed April 25 to buy for $54.20 a share, that either were already known to him or were driven by his own problems financing the takeover.

Elon Musk has been hit with a putative class action accusing him of violating California law by making manipulative transactions and false statements about his proposed acquisition of Twitter Inc.

Attorneys with Cotchett, Pitre & McCarthy LLP and Bottini & Bottini Inc. argue in the complaint, filed Wednesday in the Northern District of California, that the Tesla Inc. CEO first agreed to buy Twitter, then trashed it, causing the stoc...

To continue reading, please subscribe.
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!

Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)

Already a subscriber?

Enewsletter Sign-up



By using our website, you agree to our use of cookies in accordance with our cookie policy. You can learn more about how we use cookies by reviewing our Privacy Policy here.