Musk had made several U-turns on the Twitter deal. First he announced a shareholding he had quietly purchased and agreed to join the board of directors as a shareholder. He then announced that he wanted to buy the company completely instead. A few weeks after Twitter agreed to the $44 billion takeover, Musk wanted out of the deal because the platform had too many fake accounts and bots. Twitter sued him to force him to comply with the agreement. After it became apparent that he was likely to lose the lawsuit, Musk gave in in the fall and completed the purchase.
US Securities and Exchange Commission (SEC) is investigating Musk’s purchase of Twitter shares