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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EL-RUFAI RAISES ALARM OVER ALLEGED PLANS TO GET HIM ARRESTED. (PHOTO).

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 El-Rufai raises alarm over alleged plans to get him arrested


Former Kaduna State governor, Malam Nasir El-Rufai, has alleged that the All Progressives Congress (APC)-led federal government may arrest him.


El-Rufai, a chieftain of the opposition African Democratic Congress (ADC), stated this in an interview with BBC Hausa on Wednesday, February 11.


The former governor, who has recently stepped up his criticism of President Bola Tinubu’s administration and the APC under which he was governor for eight years, said although he has not yet been arrested, some of his close associates have been detained.


“Four people we worked with in Kaduna have been arrested; so it’s only a matter of time before they come for me too,” El-Rufai said


His comments come amid the arrest and ongoing trial of Nigeria’s former Attorney-General, Abubakar Malami, who remains in custody.

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