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Elon Musk faces lawsuit for ‘secret’ Twitter stock purchases
Elon Musk is being sued for hiding his Twitter stock acquisitions, causing the stock price to remain low artificially.
A lawsuit filed by the Oklahoma Firefighters Pension and Retirement System alleges that Morgan Stanley assisted Elon Musk in secretly acquiring over 9% of Twitter shares. A lawsuit alleging that Morgan Stanley assisted Elon Musk in secretly acquiring a stake of over 9% ownership in Twitter (now X) has been filed as an amended suit in Manhattan, brought by the Oklahoma Firefighters Pension and Retirement System. Msuk has worked with Morgan Stanley on several ventures previously and the suit alleges that they earned nearly $1.5 million in commissions when they executed the billionaire’s “secret Twitter stock acquisition scheme.”
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