SAN DIEGO, Oct. 27, 2022 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announced that a deadline is coming up in the lawsuit that was filed against Elon Musk by an investor who SOLD shares of Twitter, Inc.
Investors who SOLD over $250,000 worth of Twitter, Inc. (NYSE: TWTR) shares between May and October 2022, have certain options and there are short and strict deadlines running. Deadline: December 12, 2022. Those who SOLD Twitter shares should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
In late April Twitter announced the takeover by Musk for $54.20 per share.
Then on May 13th Musk tweeted that the merger was on hold and on May 17th that the deal cannot go forward. Thereafter, Musk sent letters to Twitter terminating the merger. After receiving the first termination letter Twitter sued Musk for specific performance.
Twitter shares declined to $32.52 in July.
Twitter’s lawsuit against Musk was set for trial beginning in mid-October. However, on October 4th, Musk announced that he intended to go through with the merger at $54.20.
On October 10th a lawsuit was filed by a Twitter shares seller against Musk over alleged securities laws violations. The plaintiff claimed that Musk’s statements were false because he was not entitled to due diligence and he had waived due diligence, that Musk was aware of the problem of bots and spam on Twitter, and that there were no legally justifiable reasons to terminate the Merger. The plaintiff seeks damages.
Those who SOLD Twitter shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached by and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
