Elon Musk is sued by shareholders over delay in disclosing Twitter stake

Elon Musk was sued on Tuesday by former Twitter Inc (TWTR.N)

who allege they missed out on in the social media company's because he delayed too long to reveal a 9.2 percent interest in it.

The shareholders said in

filed in Manhattan federal court that Musk, the CEO of electric vehicle manufacturer Tesla Inc (TSLA.O), made "" by his investment in Twitter by March 24 as required by . Twitter shares soared 27 percent on April 4, to $49.97 from $39.31, after Musk declared his position, which investors saw as in San Francisco-based Twitter from the world's richest person.

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