Central Oregon DailyLooming Musk-Twitter legal battle hammers company shares

Looming Musk-Twitter legal battle hammers company shares

Looming Musk-Twitter legal battle hammers company shares

Looming Musk-Twitter legal battle hammers company shares

NEW YORK (AP) — Shares of Twitter were down more than 9% in the first day of trading after billionaire Elon Musk said that he was abandoning his $44 billion bid for the company.

The social media platform vowed to challenge Musk in court. Musk alleged Friday that Twitter has failed to provide enough information about the number of fake accounts it has.

Twitter has said for years in regulatory filings that it believes about 5% of the accounts on the platform are fake.

Twitter shares fell below $34 in early trading, far below the $54.20 that Musk agreed to pay, suggesting few investors believe the deal will go through.

RELATED: Musk abandons deal to buy Twitter; company says it will sue

RELATED: Elon Musk: I’ll let Donald Trump back on Twitter

CentralOregonDaily.com
CentralOregonDaily.comhttps://centraloregondaily.com/
Central Oregon Daily is Television in Central Oregon … on-air, on-line & on-the-go. We are KOHD – Central Oregon’s ABC, KBNZ – CBS for Central Oregon, and local programming on Central Oregon Daily, COTV and CO4 Visitors Network. We are storytellers of all that matters to Central Oregonians.

Subscribe Today

GET EXCLUSIVE ACCESS TO CONTENT

SUPPORT LOCAL JOURNALISM

NEWS FROM 30+ MEDIA SOURCES

250,000+ LOYAL READERS EACH YEAR

Get unlimited access to our news content and our archive of Central Oregon stories.

Top Stories

More Articles