FILE PHOTO: BLETCHLEY, ENGLAND - NOVEMBER 01: SpaceX, X (formerly known as Twitter), and Tesla CEO Elon Musk speaks with other delegates during day one of the AI Safety Summit at Bletchley Park on November 01, 2023 in Bletchley, England. Leon Neal/Pool via REUTERS/File Photo
NEW YORK (Reuters) -A U.S. judge on Friday rejected billionaire Elon Musk's bid to dismiss a lawsuit claiming he defrauded former Twitter shareholders by waiting too long to disclose his initial investment in the social media company, now known as X.
U.S. District Judge Andrew Carter in Manhattan said the shareholders adequately pleaded that Musk, now a top adviser to President Donald Trump, intended to commit fraud through an improper regulatory filing, misleading tweets about Twitter's future, and a strategy to "silently" build his Twitter stake.
