Twitter investor sues Elon Musk and accuses of market manipulation

Black clouds gather over Elon Musk. After the billionaire recently had to explain himself on the alleged molestation of a flight attendant, he may now have to appear in court. One of Twitter's investors decided to sue him, accusing him of manipulating the market in the form of publishing unverified information during the confusion related to the announcement of his acquisition of the company.

Elon Musk has proven more than once that you can say everything about him, but certainly not that he behaves like CEOs of listed companies who weigh words and are always convinced that they cannot say too much before publishing an official announcement. Elon Musk, despite the fact that he is considered the richest man in the world - or maybe that's why - works quite differently: first he tweets and then "worries" about official communication with investors.

It was no different I'd love to buy Twitter. Only this time it may not end up with indiscriminate comments from angry Twitter shareholders. One of the individual investors accuses the billionaire of misleading the public in terms of finalizing the investment. This took a toll on the stock market swing, where many people could lose a lot of money. Tesla's CEO may be accused of stock market manipulation, and the case will soon be investigated by a court.

Twiiter's investor sued Elon Musk 

The investor from California, who directly accuses the president, could not stand it Teslathat he committed market manipulation in bidding to acquire a social media company.

William Heresniak has already filed an application with the US District Court for the Northern District of California. In it, he accuses Musk of deliberate manipulations during the subsequent statements, which were aimed at breaking Twitter's share price on the stock exchange. The lawsuit was filed shortly after the controversial billionaire said he was "holding his deal with Twitter." The reason was allegedly waiting for a response to see if fake accounts actually accounted for less than 5% of all Twitter users. After such a declaration, the shares were of course discounted on the stock exchange.

Elon Musk also publicly blamed the president of Twitter, Parag Agrawal, who refused to provide him with such data. He also stated that he would not complete the transaction until it was made public. After a few days, however, he changed his mind. At the moment, he claims to have a new financing plan for the Twitter deal.

Elon Musk's manipulation of cryptocurrency rates

Elon Musk has also been accused of manipulation cryptocurrency rates. He likes to write about them on Twitter, and since his profile is followed by over 56 million people, the market's reactions are always quick and decisive. It started with Dogecointhe price of which grew very quickly with his help, until Elon Musk fired on the TV show Saturday Night Live that it was actually just a highly inflated balloon. This did not prevent the pumping of more, including Shiba Inu.

He also wrote Fr. Bitcoiniebut here it was even more serious. First, he recommended that Tesla accept BTC deposits for cars and buy a lot of cryptocurrency on the market to secure the transaction. And then he issued a statement that he stopped accepting Bitcoin deposits, and he cashed a large portion of the coins after the BTC rate rose significantly when investors saw that such a serious player decided to adopt cryptocurrencies in his global business. 

The exit from cryptocurrencies explained their allegedly negative environmental impact, though experts quickly figured out that the traditional banking system was much more energy-intensive than cryptocurrencies.