Musk Loses Bid to Thwart Investor Suit Over Twitter Purchase

Elon Musk failed to fend off an investor lawsuit claiming he manipulated the stock price of Twitter Inc. months before he bought the company in 2022 by concealing how much stock he’d acquired.

A Manhattan federal judge on Friday said investors can move forward with claims that Musk committed securities fraud by failing to make timely disclosures to the US Securities and Exchange Commission, posting “misleading tweets about Twitter’s future” and carrying out “a coordinated trading strategy to silently build up” his position in the social media company.