Musk to be questioned in lawsuit over Twitter buyout, Bloomberg reports

Tesla (TSLA) CEO Elon Musk is set to be questioned under oath on April 3 in an investor lawsuit alleging his Twitter (TWTR) buyout flip-flop was a ruse to lower its stock price, Bloomberg’s Malathi Nayak reported on Friday. Investors claim his on-again-off-again moves on whether to go through with buying Twitter, now called X, including his public attacks on how the platform was managed, cast doubt over whether the deal would close and sunk its stock price, hurting investors, while improving Musk’s bargaining position. A San Francisco federal judge in December 2023 rejected Musk’s request to dismiss the case, saying that his statements “did give an impression materially different from the state of affairs that existed.” Publicly traded companies in the social media space include Meta Platforms (META), Alphabet (GOOG) (GOOGL), Pinterest (PINS), Reddit (RDDT) and Snap (SNAP).