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The Guardian - US
The Guardian - US
World
Guardian staff and agencies

Florida pension fund sues Elon Musk and Twitter to stop buyout

Elon Musk Twitter Inc. Florida Jack Dorsey Larry Ellison Lawsuit Morgan Stanley
Florida’s state pension fund invests in Twitter and stands to gain $15m to $20m from the buyout.
Florida’s state pension fund invests in Twitter and stands to gain $15m to $20m from the buyout. Photograph: Dado Ruvić/Reuters

Elon Musk and Twitter were sued on Friday by a Florida pension fund seeking to stop Musk from completing his $44bn takeover of the social media company before 2025.

In a proposed class-action lawsuit filed in Delaware chancery court, the Orlando police pension fund said Delaware law forbade a quick merger because Musk had agreements with other big Twitter shareholders, including his financial adviser Morgan Stanley and Twitter founder Jack Dorsey, to support the buyout.

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