Musk sued over delay in Twitter stake disclosure ...Middle East

The Hill - Technology
Musk sued over delay in Twitter stake disclosure
source : The Hill ( Middle East ) () 26
Tesla and SpaceX CEO Elon Musk is facing a lawsuit from former Twitter shareholders who claim he failed to disclose his stake in the social media platform in orderly time, which prevented them from profiting from the rise in stock prices. Musk purchased a 9.2 percent stake in Twitter, becoming the social media company's largest shareholder. He reportedly has denied a position on the board but was offered a position. In a class-action lawsuit filed in Manhattan federal court, plaintiff and stockholder Marc Bain Rasella said he is suing on behalf of all Twitter shareholders who held stock between March 24, when Musk passed the 5 percent ownership threshold in the social media company, a

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