Why are twitter shareholders suing Elon Musk?

Published

2 years ago

April 14, 2022

The shareholders say they missed out on the spike in stock price because Musk waited too long to reveal his position.

The matter was filed in Manhattan federal court.. with the shareholders saying Musk made “materially false and misleading statements and omissions” by withholding that he had invested in Twitter.

Under federal law he was required to disclose the information by March 24.

Twitter shares grew by 27 per cent at the start of April, reaching nearly 50 dollars following Musk’s stake reveal.

Previous shareholders say this allowed Musk to buy more Twitter shares at lower prices and pushing them into selling theirs at lower prices as well.

Through the lawsuit, former shareholders are seeking compensatory and punitive damages.

Why the meme-stock frenzy is unlikely to repeat

Published

5 days ago

May 14, 2024

Nathan Langridge

GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

Money

Why are airlines after the Biden Administration?

Published

5 days ago

May 14, 2024

Nathan Langridge

Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

Money

The mounting pressure on Government spends

Published

6 days ago

May 13, 2024

ticker NEWS

Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending