Elon Musk has been hit with a lawsuit by a Twitter shareholder, accusing him of engaging in conduct to undermine the deal and manipulate the stock price. The lawsuit seeks class-action designation and compensation for shareholders affected by the declining stock value. Additionally, Musk is facing allegations of failing to disclose his status as a Twitter investor, which the lawsuit claims resulted in market manipulation. The lawsuit calls for an investigation into Musk’s conduct and seeks damages. Musk recently stated that the deal is “on hold” pending further information about fake accounts on Twitter. He has not revealed his financing plan for the $33.5bn deal, which he now plans to finance through purchasing Twitter shares instead of using debt tied to his Tesla stake.
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