Elon Musk Sued By Twitter Investors

The shareholders of Twitter have sued Tesla CEO Elon Musk and Twitter for their handling of a disorganised acquisition procedure that is still going on

The shareholders of Twitter have sued Tesla CEO Elon Musk

Twitter for their handling of a disorganised acquisition procedure that is still going on

that has led to volatility in the company's stock price.

On April 4, Elon Musk had announced a huge stake in Twitter

suggested a takeover for $44 billion, or $54.20 per share, ten days later.

Further, Twitter's share price has plummeted by over 12% since Musk's purchase proposal

while Tesla's is down almost 28%, as part of a broader sell-off in tech equities.

Since Musk originally announced his stake, Tesla shares had dropped over 40% by the end of trading on Wednesday, CNBC reported.

However, it is pertinent to note that in order to finance the acquisition

He has both sold and pledged a portion of his Tesla shares as security for loans.

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