Technology
Dec. 29, 2022
Battle in Twitter investor suit: Whose plaintiff lost the most?
The lawsuit accuses Elon Musk of making numerous fraudulent statements surrounding his $44 billion purchase of Twitter in order to bring the company’s stock price down and avoid having to supplement a $12 billion loan he obtained to buy the company.
A battle between Lieff Cabraser Heimann & Bernstein in San Francisco and two other firms — Cotchett Pitre & McCarthy LLP in Burlingame and Bottini & Bottini Inc. in La Jolla — for the opportunity to be named lead counsel in a securities class action against Twitter CEO Elon Musk moved forward this week with the exchange of briefs on who has the best lead plaintiff.
The lawsuit accuses Musk of making numerous fraudulent statemen...
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