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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FADIEL ADAMS FACES PARLIAMENT TODAY OVER EXPLOSIVE INTELLIGENCE ALLEGATIONS. (PHOTO).

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 Fadiel Adams faces Parliament today over explosive intelligence allegations


He is accused of accessing and sharing classified South African Police Service crime intelligence without authorisation.


The claims come from KwaZulu-Natal Police Commissioner Nhlanhla Mkhwanazi, who says sensitive investigations may have been compromised.


Adams denies wrongdoing. He argues he acted in the public interest after receiving information he believed exposed serious problems within SAPS.

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