According to Marc Bain Rasella’s complaint, in dragging his feet to file, Elon Musk – Twitter’s most notorious troll – managed to scoop up more shares at a deflated price.
Rasella purports to represent the class of Twitter’s shareholders who sold their stakes in the week before Musk’s disclosure.Musk has caused turmoil at Twitter in recent weeks. Following news of his investment, he agreed to accept a seat on the company’s board through a deal that would have prevented him from owning more than 14.9 percent of Twitter’s stock.
Agrawal cryptically noted that Musk had needed to complete a background check to formally assume the role and would have had to act as a company fiduciary and “act in the best interests of the company and all our shareholders.” Those comments have stirred speculation about why Musk changed course and whether it was truly his decision.
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