SAN DIEGO, Oct. 11, 2022 (GLOBE NEWSWIRE) — The Shareholders Foundation, Inc. announced that an investor who SOLD Twitter stock has filed a lawsuit against Elon Musk.

Investors who SOLD over $100,000 worth of Twitter, Inc. (NYSE:TWTR) between May and October 2022 have certain options and short and strict deadlines. Deadline: December 12, 2022. Those who have SOLD Twitter stock should contact the Shareholders Foundation at [email protected] or call +1(858) 779-1554.

In late April 2022, Twitter, Inc. (“Twitter”) announced that it had been acquired by Elon Musk (“Musk”) for $54.20 per share.

Then, on May 13, 2022, Musk tweeted that the merger was on hold, and on May 17, 2022 that the deal could not go ahead. Musk then sent letters to Twitter ending the merger. After receiving the first termination letter, Twitter sued Musk for specific performance in Delaware.

Twitter shares fell to $32.52 per share in July.

Twitter’s lawsuit against Musk went to trial on October 17, 2022. However, on October 4, 2022, Musk announced that he intended to do the merger for $54.20.

On October 10, 2022, a seller of Twitter stock filed the lawsuit against Musk alleging securities law violations. The plaintiff alleges that Musk’s statements are false because Musk was not entitled to due diligence and had in fact waived due diligence, Musk was aware of the problems of bots and spam on Twitter, and there were no legally justifiable reasons for Musk to terminate the merger. The plaintiff demands damages.

Those who have SOLD NYSE: TWT stock should contact the Shareholders Foundation, Inc.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement filing service that conducts research on shareholder matters and educates investors about securities class actions, settlements, judgments and other legal updates related to…