More unknowns continue to circle Elon Musk’s purchase of Twitter.
A lawsuit filed in the US District Court for the Northern District of California claims the Tesla CEO has attempted to drive down Twitter's stock price by expressing doubts over his decision to buy the company. The shareholders claim Musk wants to pressure Twitter to negotiate a substantially lower purchase price.
The lawsuit seeks class-action status as well as compensation for damages.
This is only the latest row in Musk’s journey to buy Twitter. The billionaire made an offer last month to purchase the company for $44bn (£35bn). However, he later backed down from the deal, stating that the acquisition could not go forward until the company provided information about how many accounts on the platform are spam or bots.
The lawsuit notes, however, that Musk waived due diligence for his “take it or leave it” offer to buy Twitter, waiving his right to look at the company’s non-public...