Orlando Police Pension Fund,
which holds Twitter shares, filed a lawsuit in an attempt to stop Elon Musk’s efforts to acquire the social media company
This lawsuit was
dismissed Friday, removing yet another hurdle to Musk and his potential Twitter buyout
It accused Twitter
and its Board of Directors of “breaching its fiduciary duty” in accepting Musk’s offer.
The Tesla CEO
quietly acquired a 9.2% stake in Twitter, making him the company’s single largest shareholder.
The fund ultimately agreed
to have the case dismissed “with prejudice,” which meant that it cannot sue Twitter again on the same claims in the future
Interestingly enough,
the dismissal of the Orlando Police Pension Fund’s lawsuit comes amidst Musk’s long absence from Twitter