Florida lawsuit aims to stop Elon Musk’s Twitter purchase

Brand new complaint registered.

The Orlando Police Pension Fund, which has invested in Twitter, filed a complaint in order to block Elon Musk through acquiring the company. The defendants in the lawsuit are Twitter, Elon Musk, Twitter CEO Parag Agrawal, and the Twitter board.

The lawsuit argues that Musk should not take over the business until at least 2025 except if two-thirds of the company’s investors approve the buyout. This argues that after Musk bought 9% of the industry’s shares he became an “ interested stockholder, ” and therefore his takeover needs to be delayed.

We obtained a copy of the lawsuit for you  here .

The legal action seeks to delay Musk’s takeover until at least 2025 and the court to declare that Twitter’s board violated their fiduciary responsibilities.

Both Twitter plus Elon Musk are yet to comment on the legal action.

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