Musk sued by Twitter investor over ‘fraudulent’ buyout flip-flop

Musk offered to buy Twitter in April for US$54.20 (RM253) per share, or US$44bil (RM205bil), but then announced his was pulling out of the deal three weeks later. — Reuters

Elon Musk was sued by a Twitter Inc investor who says the world’s richest person’s on-again off-again purchase of the social-media platform and his public attacks on the company were designed to manipulate its stock price.

Giuseppe Pampena says that when Musk agreed last week to go ahead with his purchase of Twitter, at the originally agreed upon price, he "essentially acknowledged that he had been bluffing all along” about backing out of the deal.