Twitter shareholders have filed a lawsuit accusing Elon Musk of engaged in “unlawful conduct” aimed at sowing doubt about his bid to buy the social media company.
The billionaire Tesla CEO, Elon Musk is hinting at relocating Twitter's headquarters outside the Bay Area if his offer to buy the company goes through. Musk spoke Tuesday about Twitter's San Francisco headquarters creating left-leaning bias on the platform. KTVU's Emma Goss reports.of engaged in "unlawful conduct" aimed at sowing doubt about his bid to buy the social media company.
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.is nothing new. The company paid $809.5 million last year to settle claims it was overstating its growth rate and monthly user figures. Twitter has also disclosed its bot estimates to the Securities and Exchange Commission for years, while also cautioning that its estimate might be too low.
In response to the plunging value of Tesla’s shares, the Twitter shareholders’ lawsuit claims Musk has been denigrating Twitter, violating both the non-disparagement and non-disclosure clauses of his contract with the company.
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