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Elon Musk sued by Twitter’s Shareholders over late Disclosure

Here are today’s top trending news from the world of technology. The five biggest breaking news that has dominated the world of technology during last 24 hours.   


Elon Musk sued by Twitter’s Shareholders over late Disclosure

image credits: Flickr

Probably not a single day has been passed without interesting twists and developments ever since it has been announced that Elon Musk has bought nearly 9% stake in Twitter. Now in yet another interesting development, Musk on Tuesday was sued by Twitter’s inc’s former shareholders. Twitter’s former shareholders have claimed in their lawsuit that they were unable to make any profit from recent surge in Twitter’s stock prices because Musk intentionally delayed in disclosing his Twitter stake.

According to the American law, any person buying 5% stake in the company should disclose about his investment within 10 days of his stake purchase. It must be duly noted that Musk had started acquiring Twitter shares in January itself and by March 14th he had bought well over 5% stake in the company. This technically means that Musk should have disclosed about his stake in Twitter on March 24th itself but Musk waited till April 5th to disclose his stake. Twitter’s former shareholders claim that Tesla’s CEO intentionally withheld the information so that he could buy more Tesla shares at lower price. But this also meant that many shareholders of Twitter were tricked in selling the stocks at a much lower price and thereby not allowing them to book profit. Twitter’s former shareholders have demanded in their lawsuit that Musk should financially compensate for their loss.


YouTube recovers from global outage

YouTube faced a global outage in many parts of the world for few hours on Tuesday. According to reports, the outage was largely restricted to the U.S. while India reportedly remained immune to this outage. Many YouTube users were especially having problems in accessing the sidebar menu that enlists important things like subscriptions, library, history and liked videos. Many YouTube users took to Twitter to complain about the outage. YouTube also acknowledged about the outage on its official Twitter handle.  But the latest media reports are now claiming that the outage problem has largely been solved and YouTube is back to its normal services.


Uber criticized for hiking its rental prices during Brooklyn shootout

British PM Theresa May defends Uber

The world witnessed a fatal shootout at Brooklyn subway station on Tuesday morning, injuring at least 10 people. During this fatal shootout, many panic-ridden people were seen desperately reaching out to safe places. Amid this horrifying and terrorizing event, many people also apparently counted on ride-hailing companies Uber and Lyft to help them in reaching to safe place. But instead of rising to the occasion, Uber and Lyft chose to hike their prices immediately after the attack apparently for making profit out of this situation. Following this price hike, both Uber and Lyft were heavily criticized on Twitter. Many neitzens wrote that Uber and Lyft should be ashamed of themselves. After facing barrage of criticisms, Uber and Lyft finally took the decision to lower their prices in Brooklyn subway vicinity.


Google Chrome’s rival DuckDuckGo finally makes its debut on macOs

If you use Mac desktops and laptops and are concerned about your data privacy while browsing internet then there is some good news. This is because privacy focused browsing platform and Google Chrome’s rival DuckDuckGo has finally landed on macOs. Although DuckDuckGO is making its debut on Mac in beta stage, a full-fledge launch can be expected in coming months. The launch of Mac desktop web browser comes nearly a year after DuckDuckGO released its app for Android and IOS users. DuckDuckGO on macOs will offer all the standard privacy features like email protection, blocking web trackers and its famous ‘fire’ button that automatically burns up your browsing history.


Nokia will soon exit the Russian Market

The yesteryear’s big telecom brand Nokia has said that it will no longer sell its smartphones or operate in the Russian market. Due to this decision, Nokia’s nearly 2000 Russian employees will be affected. The Finnish telecom giant has already stopped the shipment of all its products to Russia in March itself. Following this decision, Nokia has now joined scores of big western companies that have boycotted Russia due to its ongoing military invasion against Ukraine.



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