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The Guardian - US
The Guardian - US
Technology
Kari Paul

Twitter investor sues Elon Musk for failure to promptly disclose his shares

image of elon musk's twitter page next to twitter logo
Elon Musk’s delayed disclosure meant he was able to buy additional shares in Twitter at a deflated price, the lawsuit claims. Photograph: Rafael Henrique/Sopa Images/Rex/Shutterstock

A Twitter shareholder is suing Elon Musk for failing to disclose that he had bought a substantial stake in the company, affecting share prices.

The Tesla CEO revealed on 4 April that he had acquired a 9.2% stake in Twitter. Shares of the social media company soared, as investors viewed the move as a vote of confidence from the richest man in the world.

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