Musk's $44 billion Twitter buyout challenged in shareholder lawsuit

[CatWoman]

(Reuters)Elon Musk and Twitter (TWTR) were sued on Friday by a Florida pension fund seeking to stop Musk from quickly completing his planned $44 billion takeover of the social media company.

In a complaint filed in Delaware Chancery Court, the Orlando Police Pension Fund said that under Delaware law Musk cannot complete the takeover until at least 2025 unless holders of two-thirds of shares not "owned" by him approved.

The lawsuit said Musk became an "interested stockholder" after taking a more than 9% Twitter stake, requiring the delay.

Musk also runs electric car company Tesla (TSLA) and is the world's richest person, according to Forbes magazine.

https://www.cnn.com/2022/05/06/tech/twitter-shareholder-lawsuit-elon-musk/index.html

[Haggis 4 Breakfast]

1. I am so tired of hearing Musk described as

"The richest person in the world." He isn't. There are people far more wealthy than he, but we will never know their names because these men travel in such rarified air and their wealth is securely secret from the prying public.