SAN DIEGO, Oct. 17, 2022 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announced that an investor who SOLD shares of Twitter, Inc. (NYSE: TWTR) filed a lawsuit against Elon Musk.
Investors SOLD over $100,000 worth of Twitter, Inc. (NYSE: TWTR) shares between May and October 2022, have certain options. Those who SOLD Twitter shares should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
In later April 2022, Twitter, Inc. (“Twitter”) announced the takeover by Elon Musk (“Musk”) for $54.20 per share.
Then on May 13, 2022, Musk tweeted that the merger was on hold and on May 17, 2022, that the deal cannot go forward. Thereafter, Musk sent letters to Twitter terminating the merger. After receiving the first termination letter Twitter sued Musk for specific performance in Delaware.
Twitter shares declined to $32.52 per share in July.
Twitter’s lawsuit against Musk was set for trial beginning on October 17, 2022. However, on October 4, 2022, Musk announced that he intended to go through with the merger at $54.20.
On October 10, 2022, a seller of Twitter shares filed the lawsuit against Musk over alleged securities laws violations. The plaintiff claims that Musk’s statements were false because Musk was not entitled to due diligence and had in fact waived due diligence, that Musk was aware of the problem of bots and spam on Twitter, and that there were no legally justifiable reasons for Musk to terminate the Merger. The plaintiff seeks damages.
Those who SOLD Twitter, Inc. shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached by and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
