Musk's $44 billion Twitter buyout challenged in shareholder lawsuit
By Reuters

Updated 2116 GMT (0516 HKT) May 6, 2022

(Reuters)Elon Musk and Twitter (TWTR) were sued on Friday by a Florida pension fund seeking to stop Musk from quickly completing his planned $44 billion takeover of the social media company.

In a complaint filed in Delaware Chancery Court, the Orlando Police Pension Fund said that under Delaware law Musk cannot complete the takeover until at least 2025 unless holders of two-thirds of shares not "owned" by him approved.


Elon Musk raises an additional $7 billion in financing for Twitter deal

The lawsuit said Musk became an "interested stockholder" after taking a more than 9% Twitter stake, requiring the delay.
Musk also runs electric car company Tesla (TSLA) and is the world's richest person, according to Forbes magazine.
Twitter and its board, including Chief Executive Parag Agrawal, are also defendants.
The lawsuit seeks to delay the merger's closing until at least 2025, declare that Twitter directors breached their fiduciary duties, and recoup legal fees and costs.

Twitter declined to comment. A lawyer for Musk did not immediately respond to a request for comment.

CNN

Elon Musk and Twitter were sued on Friday by a Florida pension fund seeking to stop Musk from quickly completing his planned $44 billion takeover of the social media company.

Ok

What did these people hide in twitter that they are pulling all efforts to stop Elon Musk from buying?

VERY GOOD DEVELOPMENT.
$44+$7 NOW UP TO $51bn.
ELON MUSK MAY DROP THIS PARTICULAR DEAL AND BUY MTN INSTEAD.

The US has a good justice system and people who can stand up to any one posing threats to the society.If this was Dangote in nigeria, forget it.