Musk, Twitter targeted by Florida pension fund complaint

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(Reuters) – Elon Musk and Twitter are the targets of a complaint filed on Friday by a pension fund in Florida, United States, which seeks to prevent the American billionaire from quickly completing the takeover of the social network for 44 billion dollars (41 .6 million euros).

In a lawsuit filed in a Delaware court, the city of Orlando’s police pension fund believes that under Delaware regulations, Elon Musk cannot complete the Twitter takeover until at least 2025 unless that shareholders representing two-thirds of Twitter shares not held by the boss of Tesla approve the operation.

Elon Musk is an “interested shareholder” after acquiring a more than 9% stake in Twitter, which requires a delay, the complaint reads.

Twitter and its board of directors are also targeted by the complaint.

The social network did not wish to comment while a lawyer for Elon Musk did not immediately respond to a request for comment.

(Report Jonathan Stempel, French version Matthieu Protard, edited by Camille Raynaud)

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