Musk Faces New Setback in Lawsuits Over 2022 Twitter Buyout

Twitter shareholders gained traction in another lawsuit against Elon Musk over the run up to his 2022 buyout of the social media platform, with a judge granting class-action status to the investors.

The investors claim they were harmed when Musk secretly amassed more than 13 million in Twitter shares over 11 days starting on March 25, 2022. US District Judge Andrew Carter in New York ruled the investors can sue together in a single case, amplifying their leverage to force a settlement or go forward to trial.