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Elon Musk under fire from shareholders over Twitter deal

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2 years ago

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Elon Musk during SNL appearance

Twitter shareholders are filing a lawsuit against billionaire Elon Musk, alleging he manipulated the company’s stock for personal gain.

The complaints focus on Musk’s conduct after signing the purchase agreement with Twitter’s board in April.

It’s alleged Musk make statements and sent tweets that put the deal in doubt, and drove Twitter’s stocks down.

It comes as the Tesla CEO says the deal “cannot move forward” without more information about automated accounts on the platform.

The lawsuit is a class action proposal brought by a small group of shareholders… they are seeking damages that would be distributed to anyone holding the company’s stock.

Twitter has declined to comment on the unfolding case.

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Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.

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Warner Brothers & Discovery considers splitting up to boost stock value

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1 week ago

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July 19, 2024

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Warner Bros Discovery is considering a strategic breakup to enhance its stock performance, according to a Financial Times report.

The potential move aims to unlock value by separating its media assets from its reality TV and lifestyle businesses.

This decision follows pressure from investors to improve stock performance, amidst challenges in the media industry #featured #trending

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Investors worldwide grow increasingly optimistic about Trump winning the election

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1 week ago

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July 18, 2024

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Investors are increasingly optimistic about Donald Trump’s potential re-election, prompting a resurgence in the so-called ‘Trump trade’.

Market participants are closely monitoring Trump’s political strategies and public sentiment, influencing their investment decisions.

Kyle Rodda from Captial.com joins to discuss all the latest.

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Netflix expands use of ads despite slow subscriber growth

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1 week ago

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July 18, 2024

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Netflix is intensifying its efforts to introduce an ad-supported tier amidst a plateau in subscriber growth.

The streaming giant hopes to attract new users and boost revenue by offering a cheaper alternative that includes advertisements.

This move marks a significant shift from its traditional ad-free model, reflecting Netflix’s response to competitive pressures and evolving consumer preferences.

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