Twitter shareholders file lawsuit accusing Elon Musk of ‘unlawful conduct’

San Francisco-based Twitter is also named as a defendant in the lawsuit, which seeks class action status as well as compensation for damages

Tesla CEO Elon Musk has been accused of unlawful conduct. Picture: Patrick Pleul/Pool Photo via AP

Twitter shareholders have filed a lawsuit accusing Elon Musk of engaging in “unlawful conduct” aimed at sowing doubt about his bid to buy the social media company.

The lawsuit filed in the US District Court for the Northern District of California claims the billionaire Tesla CEO has sought to drive down Twitter’s stock price because he wants to walk away from the deal or negotiate a substantially lower purchase price.