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Elon Musk Sued by Investor Over Twitter Stake

Source: Kathryn Mannie Global News, April 17, 2022

The lawsuit seeks unspecified compensatory and punitive damages.

After a week of headlines related to Elon Musk becoming Twitter’s largest shareholder, the billionaire is being sued for waiting too long to disclose his 9.2 per cent stake in the social media company.

A proposed class action lawsuit was filed in Manhattan federal court on Tuesday by Marc Bain Rasella, an investor who sold Twitter shares before Musk announced his stake in the company on April 4.

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