Elon Musk. (Credit: vasilis asvestas/Shutterstock.com). Lawsuit Seeks Pause on Elon Musk's Twitter Acquisition
The crux of the complaint is that under Section 203, Musk is now considered an interested stockholder, and his takeover can't go through until 2025 unless two-thirds of other shareholders vote in favor.
May 06, 2022 at 03:43 PM
2 minute read
Technology Media and Telecom
The original version of this story was published on Delaware Business Court Insider
A Florida pension fund filed a complaint Friday asking the Court of Chancery to find Twitter can't legally close its deal with Elon Musk without either shareholder approval or more time passing.
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