And round & round we go
#ElonMusk must face #Twitter #shareholders’ lawsuit over alleged #securities #fraud
A proposed class-action lawsuit against #Musk and his family office #Excession can proceed in federal court, a judge ruled Friday, after the #tech centi-billionaire sought to have the case dismissed.
The case is Rasella v. Musk (Case No. 1:22-cv-03026-ALC-GWG) in the SDNY.
https://www.courtlistener.com/docket/63230072/118/rasella-v-musk/
#law #SEC
https://www.cnbc.com/2025/03/28/elon-musk-must-face-twitter-shareholders-lawsuit-over-alleged-securities-fraud.html
On the #xAI purchase of #X (#Twitter)
Because both companies are privately held & controlled by #Musk, the transaction likely amounts to a #stock swap, with X investors getting paid out in xAI shares. The companies have a number of mutual investors, including venture firms #AndreessenHorowitz & #SequoiaCapital, as well as #Fidelity Management, #VyCapital & #SaudiArabia’s Kingdom Holding Co.
#law #securities #SEC
https://www.cnbc.com/2025/03/28/elon-musk-says-xai-has-acquired-x-in-deal-that-values-social-media-site-at-33-billion.html
Best explanation of the #Musk bought #Twitter w/borrowed money using his #Tesla stock, now it’s got all this debt because he destroyed Twitter / #X, so he bought it again with his company #xAI shell game:
https://www.barrons.com/articles/xai-buys-x-musk-twitter-2e5ab716
#sketchy #billionaire #finance #tech #securities #fraud #swindle #SEC #law