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On Friday, the Orlando (Florida) Police Pension Fund filed a lawsuit against American businessman Elon Musk in connection with the latter's intentions to buy the company … PRIME, 05/07/2022
US pension fund sues Elon Musk for buying Twitter
WASHINGTON, May 7 – PRIME. The Orlando Police Pension Fund, Florida, filed a lawsuit on Friday against American businessman Elon Musk in connection with the latter's intention to buy Twitter for $44 billion, CNN reports.
Musk shared his financial plans for Twitter
The lawsuit was filed in a Delaware state court. The Fund is one of the shareholders of the company. He insists that, under state law, Musk can't complete the Twitter deal until 2025 unless two-thirds of the shares he doesn't own approve it sooner.
According to court documents, Musk received the status of interested shareholder after acquiring more than 9% of Twitter's shares, which necessitates a delay in the transaction.
At the time of writing, Twitter has not commented on this post.
Formerly Twitter, Inc. announced an agreement with Musk to buy the company for $44 billion. Explaining his investment in the social network, the billionaire noted that he believes in its potential to become a platform for free speech around the world. At the same time, he announced that he was ready to spend his own funds of $ 21 billion.
