ELON MUSK FACES CIVIL SECURITIES FRAUD SUIT OVER TWITTER PURCHASE AS HE EYES SPACEX IPO. (PHOTO).

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 Elon Musk faces civil securities fraud suit over Twitter purchase as he eyes SpaceX IPO  Since acquiring Twitter for roughly $44 billion in late 2022, Elon Musk has renamed the platform X, merged it with his artificial intelligence company xAI, and integrated both into his defense and space company, SpaceX. Musk’s next major move could be taking SpaceX public in what would likely be a record-setting IPO, but first, he is confronting legal challenges from his past. On Wednesday, Musk appeared in federal court in San Francisco to face allegations of civil securities fraud tied to his Twitter purchase. Investors filed a class action in October 2022, claiming Musk manipulated Twitter’s stock to pressure the board into selling at a lower price than initially promised. Musk’s legal team denies any intent to harm Twitter or its shareholders. During the hearing, Musk acknowledged that his tweets can affect stock prices, sometimes unpredictably, and described the market as “manic depr...
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EFCC ARRESTS THREE FOR SUSPECTED NAIRA MUTILATION IN MAIDUGURI . (PHOTO). #PRESS RELEASE.

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 EFCC Arrests Three for Suspected Naira Mutilation in Maiduguri 


 


The Maiduguri Zonal Directorate of the Economic and Financial Crimes Commission, EFCC,  have arrested three individuals over alleged Naira mutilation.


 


The suspects are: Adam Muhammad, Muhammad Muhammad and Bashir Musa.


 


Adam, Muhammad and Musa were arrested following a viral video circulated on social media platforms where they were seen cleaning mucus from their nose using N500 Naira note.


 


Following the release of the video, the Commission traced the trio and arrested them in the Maiduguri metropolis area.


 


The suspects are currently under investigation at the Maiduguri detention facility while investigation is ongoing.


 


The suspects will be charged to court upon conclusion of investigations.

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