Elon Musk Argues Mistake, Not Fraud, In Twitter Stake Disclosure Lawsuit

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Elon Musk Argues Mistake, Not Fraud, In Twitter Stake Disclosure Lawsuit - Benzinga

Quick Summary:

In a recent filing in Manhattan federal court, Musk dismissed the idea that he aimed to deceive shareholders unaware of his 9.2% Twitter stake, which led them to miss out on significant gains when they sold their stock, Reuters reports.

Elon Musk seeks to dismiss a lawsuit filed by former Twitter shareholders who claim he delayed disclosing his substantial ownership stake in the social media company in early 2022.

Investors allege that Musk and his wealth manager, Jared Birchall, were aware of the U.S.Securities ...