The lawsuit claims the billionaire Tesla CEO has sought to drive down Twitter’s stock price because he wants to walk away from the deal or negotiate a substantially lower purchase price.
By BARBARA ORTUTAY | The Associated Press
San Francisco-based Twitter is also named as a defendant in the lawsuit, which seeks class action status as well as compensation for damages. The lawsuit notes, however, that Musk waived due diligence for his “take it or leave it” offer to buy Twitter. That means he waived his right to look at the company’s non-public finances.
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