© Reuters. FILE PHOTO: Elon Musk attends the opening ceremony of the brand new Tesla Gigafactory for electrical vehicles in Gruenheide, Germany, March 22, 2022. Patrick Pleul/Pool by way of REUTERS
(Reuters) – A U.S. district court docket on Monday denied Elon Musk’s request to dismiss a lawsuit filed by Twitter traders that accuses him of driving down the social media platform’s inventory worth within the months earlier than he purchased it in October 2022.
The court docket for the Northern District of California allowed sure claims by the investor go well with concerning Musk’s statements, together with his tweet concerning the deal being “quickly on maintain”, though a portion of the plaintffs’ claims had been rejected.
The legislation agency representing Musk, Quinn Emanuel Urquhart & Sullivan LLP, didn’t instantly reply to a request for remark.
Musk led the $44 billion acquisition of Twitter, which he has rebranded X.