Twitter owner Elon Musk. Photo: Muhammed Selim Korkutata
Elon Musk’s brief effort to back out of buying Twitter in 2022 is the focus of a trial starting this week over claims the world’s richest person manipulated the company’s stock price to get himself a better deal.
Mr Musk eventually paid $44bn (€37.6bn) for Twitter that fall, closing the buyout at the $54.20-per-share price he had originally agreed to six months earlier. But during the intervening months, a group of investors allege, Mr Musk publicly attacked the company in a ruse to drive down its market value and benefit himself at their expense.
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