Engineer, entrepreneur, inventor and investor Elon Musk. File photoMOSCOW, May 27Twitter shareholders are suing US entrepreneur Elon Musk and the company itself over a plan to acquire the social network that is still pending and contributes to fluctuations in the company's stock prices, CNBC reports. In a class-action lawsuit filed on Wednesday, Twitter shareholders allege that Musk violated California corporate law and manipulated the market. In addition, the document alleges that Musk violated state law by sowing doubts about whether he would complete the deal after signing the contract.The media have calculated Musk's losses since submitting a bid to buy TwitterTwitter's board of directors on April 15 adopted a plan to protect the rights of shareholders (the so-called «poison pill»), which was supposed to prevent Musk from an unwanted takeover of the company. However, on April 25, the social network announced that the parties nevertheless agreed on a deal: Musk would buy Twitter for $44 billion ($54.2 per share). And on May 13, Musk announced the suspension of the deal: the businessman, according to him, wants to make sure that spam and fake Twitter accounts are less than 5%. Twitter shares plunged 20% on the news. The document also notes that Musk's complaints about social media bots were part of a scheme to negotiate a better price or wreck the deal. «Musk continued to make statements, post tweets and engage in actions designed to cast doubt on the deal and substantially lower Twitter shares in order to create leverage, which Musk hoped to use to either pull out of the purchase or renegotiate the deal,» the channel quoted the lawsuit as saying.
Musk offered to explain to Twitter management for «stuffing» Democrats As noted, under California law, corporations must exclude from voting on any proposals those members of the board of directors who committed any misconduct related to these proposals. Neither Musk nor Twitter have yet commented on the information regarding the lawsuit.< img src="/wp-content/uploads/2022/05/ded55d9ee5cb67e74e51062e79bae8c9.jpg" />Trump says he will never return to Twitter
