The investors said Musk saved himself $156 million by failing to disclose that he had purchased more than 5% of Twitter by March 14. He continued to buy stock after that, and ultimately disclosed in early April that he owned 9.2% of the company.
“By delaying his disclosure of his stake in Twitter, Musk engaged in market manipulation and bought Twitter stock at an artificially low price,” said the investors, led by Virginia resident William Heresniak.
The suit comes after Musk, the owner of electric carmaker Tesla Inc, said he planned to take over Twitter for $44 billion.
!(function(f, b, e, v, n, t, s) {
window.TimesApps = window.TimesApps || {};
const { TimesApps } = window;
TimesApps.loadFBEvents = function() {
(function(f, b, e, v, n, t, s) {
if (f.fbq) return;
n = f.fbq = function() {
n.callMethod ? n.callMethod(…arguments) : n.queue.push(arguments);
};
if (!f._fbq) f._fbq = n;
n.push = n;
n.loaded = !0;
n.version = ‘2.0’;
n.queue = [];
t = b.createElement(e);
t.async = !0;
t.src = v;
s = b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t, s);
})(f, b, e, v, n, t, s);
fbq(‘init’, ‘593671331875494’);
fbq(‘track’, ‘PageView’);
};
})(
window,
document,
‘script’,
‘https://connect.facebook.net/en_US/fbevents.js’,
);if(typeof window !== ‘undefined’) {
window.TimesApps = window.TimesApps || {};
const { TimesApps } = window;
TimesApps.loadScriptsOnceAdsReady = () => {
var scripts = [‘https://static.clmbtech.com/ad/commons/js/2658/toi/colombia_v2.js’,
‘https://www.googletagmanager.com/gtag/js?id=AW-877820074’,
‘https://imasdk.googleapis.com/js/sdkloader/ima3.js’,
‘https://tvid.in/sdk/loader.js’,
‘https://timesofindia.indiatimes.com/video_comscore_api/version-3.cms’,
‘https://timesofindia.indiatimes.com/grxpushnotification_js/minify-1,version-1.cms’,
‘https://connect.facebook.net/en_US/sdk.js#version=v10.0&xfbml=true’,
‘https://timesofindia.indiatimes.com/locateservice_js/minify-1,version-12.cms’
];
scripts.forEach(function(url) {
let script = document.createElement(‘script’);
script.type=”text/javascript”;
if(!false && !false && url.indexOf(‘colombia_v2’)!== -1){
script.src = url;
} else if (!false && !false && url.indexOf(‘sdkloader’)!== -1) {
script.src = url;
} else if (url.indexOf(‘colombia_v2’)== -1 && url.indexOf(‘sdkloader’)== -1){
script.src = url;
}
script.async = true;
document.body.appendChild(script);
});
}
}
More News
Higher sales volume pushes up Maruti Suzuki Q4 profit by 47.8% to Rs 3,877.8 crore – Times of India
Alphabet, Microsoft shares jump on proof of near-term AI returns – Times of India
SBI Life Q4 profit rises 4% to Rs 811 crore – Times of India