Judge throws out shareholder lawsuit against Elon Musk over Twitter buyout

By Jonathan Stempel

Technology
Tuesday, 23 May 2023
11:18 AM MYT

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FILE PHOTO: Elon Musk's photo is seen through a Twitter logo in this illustration taken October 28, 2022. REUTERS/Dado Ruvic/Illustration

(Reuters) - A judge dismissed a proposed class-action lawsuit against Elon Musk that claimed he cheated Twitter shareholders several times last year in the course of buying the social media company for $44 billion.

In a decision on Monday, U.S. District Judge Charles Breyer in San Francisco said plaintiff William Heresniak lacked standing to sue because he challenged "wrongs associated with" Musk's buyout, not the fairness of the buyout itself.

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Judge throws out shareholder lawsuit against Elon Musk over Twitter buyout