News > Elon Musk accused of breaking law while buying Twitter stock

Elon Musk accused of breaking law while buying Twitter stock

LiveMint | 13/04/2022 08:46 AM | Click to read full article

Elon Musk's huge Twitter investment took a new twist Tuesday with the filing of a lawsuit alleging that the colourful billionaire illegally delayed disclosing his stake in the social media company so he could buy more shares at lower prices.

That strategy, the lawsuit alleges, hurt less wealthy investors who sold shares in the San Francisco company in the nearly two weeks before Musk acknowledged holding a major stake.