Elon Musk Faces Lawsuit By Twitter Investors

On April 4, Elon Musk and his Twitter shares made headlines.

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Musk secured a 9.2% stake in the company, making him the largest shareholder.

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However, Musk started acquiring shares back in January.

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Within four months, he had acquired an over 5% stake in the company.

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A new lawsuit claims that Musk did not notify financial regulators when he reached that threshold.

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The lawsuit is represents Twitter investors who sold stock between March 24 and April 1.

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They claim that they missed a chance at profits due to Musk’s non-disclosure.

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Musk has faced trouble for “misleading investors” in 2018 due to his tweets.

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“I want to be clear. I do not respect the SEC,” Musk said on “60 Minutes” in 2018.

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