In an order filed Thursday, Judge
Donato had previously dismissed the case in June, but he offered Greenspan the opportunity to file another complaint on federal legal issues. The judge wrote that claims such as defamation that were made under
Among other things, the lawsuit alleged that
Donato ruled that Greenspan failed to provide facts to support his allegations that Qazi acted as an agent of
In other legal news connected to Musk, a
In granting a motion to expedite requested by the
“While I'm skeptical of the plaintiff’s theories, and extremely skeptical at that, on a motion to expedite the strike zone is far larger for the plaintiff,” the judge said. “It’s like the strike zone applied when
McCormick said the pension fund could pursue “extremely limited discovery” regarding its allegations that the deal must be delayed for at least three years under an anti-takeover provision in
The judge nevertheless said she was “dubious” that the proposed Twitter buyout is the sort of deal the provision is intended to address. The provision prevents any shareholder who owns 15% or more of a company’s stock from buying out other shareholders for a period of three years after reaching the 15% threshold unless certain conditions are met. One such condition is approval of the deal by at least two-thirds of the outstanding voting stock not owned by that “interested stockholder.”
While Musk owned only about 9.6% of Twitter’s stock when the company’s board approved his proposed
The plaintiffs allege that Dorsey, who owns about 2.4% of Twitter’s stock, and
The defendants, who have filed a motion to dismiss the lawsuit, say there was no “meeting of the minds,” and that the notion that Musk is an interested stockholder under
They note, among other things, that the
AP Business Writer
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