The shareholders also said they sold Twitter shares at artificially low prices because Musk hid what he was doing. Carter said he could not infer that Musk was "too busy" to comply with SEC rules if he could find time to buy Twitter shares, meet with company executives, and post online about Twitter. Musk bought Twitter for $44 billion last October. Twitter shares rose 27% on April 4, 2022, to $49.97 from $39.31, after Musk revealed his 9.2% stake. The case is Oklahoma Firefighters Pension and Retirement System v. Musk et al, U.S. District Court, Southern District of New York, No.

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Persons: Elon Musk, Chuck Schumer, Leah Millis, Andrew Carter, Musk, Carter, Katie Sinderson, Jonathan Stempel, Will Duham Organizations: Intelligence, Senate, U.S, Capitol, REUTERS, Twitter, District, U.S . Securities, Exchange, SEC, Oklahoma Firefighters, Court, Southern District of, Thomson Locations: Washington , U.S, U.S, Manhattan, Oklahoma, Southern District, Southern District of New York, New York