Shareholders sue to stop Musk from tanking Twitter deal

Twitter shareholders are trying to stop the world's wealthiest man from purchasing the company.

Twitter shareholders accused Musk of market manipulation and violating California's business laws in a proposed class-action complaint filed this week. Twitter was also sued.

The lawsuit accuses Musk of decreasing Twitter's stock value The complaint claims Musk did this because he committed $12.5 billion in Tesla shares as security for the transaction, which has fallen 37%

The claim says that the drop placed Musk in the position of needing to spend more of his own money. Purposely decreasing Twitter's value may be a business get-out-of-jail-free card.

The complaint says Musk "made remarks, sent tweets, and engaged in actions to sow uncertainty about the purchase and push Twitter's stock down

"Musk's behaviour was unlawful, in violation of the California Corporations Code, and contrary to the contract conditions," the complaint states.

MAN POINTS GUN AT CAMERA DURING GUN VIOLENCE REPORT ON CHICAGO TV