Elon Musk seeks to resolve the dispute over the delayed disclosure of his Twitter investment.

Elon Musk requested that a U.S. judge dismiss a case, claiming that his delayed disclosure of a sizable position in Twitter Inc. misled shareholders who, as a result of being kept in the dark, sold Twitter stock at artificially low prices.
Investors accused Musk of delaying disclosing his purchase of 5% of Twitter’s stock by 11 days past a March deadline in the federal court case in Manhattan. Musk purchased Twitter for $44 billion in October.
The shareholders claimed Musk saved more than $200 million by increasing his holdings before finally disclosing a 9.2% stake, defrauding stock sellers and options traders of the “true value” of their securities. This was done while secretly meeting with Twitter executives about his plans for the social media company.

This news is written by Ms. Amrita Singh, Research Assistant, All India Legal Forum.


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