Twitter Investor: Musk's U-Turn Proves He Was 'Bluffing All Along'

An investor in Twitter has accused Tesla billionaire Elon Musk of manipulating markets so that he could renegotiate a better price, adding that Musk's latest u-turn is proof that he was "bluffing all along" about walking away from the deal.

Topline - The Best Way to Find Top Talents

This latest lawsuit against Elon Musk is yet another example of the billionaire's tumultuous efforts to buy Twitter. This time, an investor has accused Musk of manipulating the markets in order to secure a better deal. It remains to be seen how this legal challenge will play out, but it is clear that Musk will stop at nothing to get what he wants.

Elon Musk was sued by a Twitter investor in California federal court. NurPhoto via Getty Images
Elon Musk was sued by a Twitter investor in California federal court on Thursday. The investor, California resident Andrew Therrien, alleges that Musk violated federal securities laws by tweeting false and misleading information about taking Tesla private.

Key Facts

News Peg: How to Write an Engaging Headline

It is anticipated that the deal between Elon Musk and Twitter will close soon, despite some delays in the process. Musk first offered to buy the social media platform for $44 billion in April, but later backed out of the deal in July. However, he reversed his decision again in October, just weeks before the matter was set to go to trial. The deal has not yet closed, but it is expected that it will go through soon.

Forbes Valuation: How to Determine the Value of Your Business

Elon Musk is now the richest person on the planet, with an estimated net worth of $219.8 billion, according to Forbes' real-time tracker. This is an incredible achievement for the entrepreneur and innovator, who has made a name for himself in a variety of industries.

Further Reading: How to Summarize Input Into an Engaging Headline

Tesla CEO Elon Musk is being sued by a Twitter investor over his now-infamous "buyout" tweet from August. The investor, Andrew Left of Citron Research, alleges that Musk's tweet about taking Tesla private at $420 per share was fraudulent, and that it caused Tesla's stock price to "artificially and unlawfully" skyrocket. This is just the latest in a string of bad news for Musk, who has been under intense scrutiny lately for his erratic behavior. It's unclear how this lawsuit will affect Tesla's already struggling stock price, but it's yet another black eye for the company.

This has been quite a week for Elon Musk. First, his proposed Twitter deal moved ahead, despite some initial skepticism. Then, his stock took a hit after some poor earnings reports. Finally, he made headlines by "zooming" with Russian President Vladimir Putin.