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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SUSPENDED EBONYI COMMISSIONER ACCEPTS BLAME, APOLOGISES TO GOV NWIFURU. (PHOTO)

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Suspended Ebonyi commissioner accepts blame, apologises to Gov Nwifuru


The suspended Commissioner for Works in Ebonyi State, Lebechi Mbam, has tendered a public apology following his indefinite suspension by the State Governor, Francis Ogbonna Nwifuru, over alleged dereliction of duty.


Recall that Governor Nwifuru at the weekend announced the indefinite suspension of Mbam and his Infrastructure Development for Concession counterpart, Ogbonnaya Obasi Abara, citing lapses in the discharge of their responsibilities at the Ministry of Works.


In a statement issued on his social handle after the suspension, Mbam acknowledged the weight of leadership and accepted responsibility for the unmet expectations under his watch.


“Leadership and mentorship come with the ability to take accolades and the courage to take correction and reprimand,” he stated.


The embattled commissioner reaffirmed his loyalty and accountability to the governor, describing him as his leader and mentor.


He emphasised that performance in the Ministry of Works remains a priority to the governor and noted that disciplinary measures, whether public or private, are intended to strengthen governance and improve service delivery.

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