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BURLINGAME, Calif.--(BUSINESS WIRE)-- Cotchett, Pitre & McCarthy (www.cpmlegal.com), and Bottini & Bottini announce that they have filed a class action lawsuit against Elon Musk on behalf of all persons who sold the common stock and securities of TWITTER, Inc. (NYSE: “TWTR”) at any time between May 13, 2022 and October 4, 2022 (the “Class Period”). The lawsuit, captioned Pampena v. Elon Musk, Case No. 3:22-cv-05937, is pending in the United States District Court for the Northern District of California.
The lawsuit alleges that Elon Musk violated Section 10(b) of the Securities Exchange Act of 1934 by issuing false statements about his purchase of Twitter, Inc., including false claims that Twitter had breached the terms of the merger agreement. Among other things, the complaint alleges that, on May 13, 2022, Musk issued misleading tweets claiming that the merger was “temporarily on hold.” On May 17, 2022, Musk issued another tweet stating that the merger “cannot go forward” until Twitter showed him proof of the number of “fake accounts” on its platform. Thereafter, between July 8, 2022 and September 9, 2022, Musk issued three separate notices purporting to terminate the merger. The complaint alleges that these statements falsely claimed that Twitter had breached the terms of the merger agreement by, among other things, not giving him documents about spam and bots.
The complaint...
Vadodara/Surat. A special CBI court has convicted four individuals in a 23-year-old fire insurance fraud case in Gujarat and sentenced each of them to three years of rigorous imprisonment. The cou...