Dec 12 (Reuters) – A U.S. district court on Monday rejected Elon Musk’s request to dismiss a lawsuit brought by Twitter investors who accuse him of depressing the social media platform’s stock price months before he bought it in October 2022.
The U.S. District Court for the Northern District of California upheld some of the investor’s claims regarding Musk’s statements, including his tweet that the deal was “temporarily on hold,” although some of the plaintiffs’ claims were dismissed.
The law establishment representing Musk, Quinn Emanuel Urquhart & Sullivan LLP, didn’t incontinently respond to a request for comment.
Musk oversaw the $44 billion acquisition of Twitter, which he renamed X.
