In a major legal victory for tech billionaire Elon Musk, a class-action lawsuit accusing him of cheating Twitter shareholders has been dismissed by a U.S. District Judge in San Francisco.

The lawsuit alleged that Musk manipulated the system during the acquisition of the social media giant. However, the judge ruled that the plaintiff lacked standing to sue and found no evidence to support the claims of harm caused by Musk's actions, Reuters reported on Tuesday.

The lawsuit, filed by William Heresniak, claimed that Musk's delayed disclosure of a 9.2 percent stake in Twitter allowed him to purchase additional shares at a lesser price before the buyout was announced. It also alleged that the deal's closing took place 1 1/2 months later than planned, causing harm to shareholders.

However, U.S. District Judge Charles Breyer dismissed the case, stating that Heresniak lacked standing to sue because he focused on the "wrongs associated with" Musk's buyout rather than the fairness of the buyout itself, reported Reuters. The judge emphasised that the plaintiff did not demonstrate any specific harm resulting from Musk's belated disclosure or the delayed closing.

Furthermore, the judge found no proof to support the claim that Musk helped two friends on Twitter's board, Jack Dorsey and Egon Durban, breach their fiduciary duties by favoring their own and Musk's interests. The decision to allow Dorsey to roll over his approximately $1 billion worth of Twitter shares into an equity stake in the new company was determined to be a legitimate reduction in Musk's payment at closing and not an improper diversion of funds from other shareholders.

Musk, who was the world's richest man for the most part of 2022,&nbsp;bought Twitter for $44 billion in April last year. After Musk's&nbsp;takeover, the then publicly-traded firm became private. Notably, after Musk completed the takeover in October last year, Twitter has been on a makeover spree.&nbsp;

While&nbsp;the lawsuit against Musk has been dismissed, Twitter's troubles are far from over.&nbsp;

The microblogging platform continues to face challenges in maintaining ad revenue. Advertisers have expressed concerns about their ads being associated with hate speech or inappropriate content due to the platform's relaxed content rules.

Moreover, Musk's recent appointment of former NBCUniversal advertising chief Linda Yaccarino as Twitter's new CEO adds an intriguing twist to the ongoing saga.&nbsp;

(Inputs from Reuters)

In a major legal victory for tech billionaire Elon Musk, a class-action lawsuit accusing him of cheating Twitter shareholders has been dismissed by a U.S. District Judge in San Francisco.

In a major legal victory for tech billionaire Elon Musk, a class-action lawsuit accusing him of cheating Twitter shareholders has been dismissed by a U.S. District Judge in San Francisco. The lawsuit alleged that Musk manipulated the system during the acquisition of the social media giant. However, the judge ruled that the plaintiff lacked standing to sue and found no evidence to support the claims of harm caused by Musk's actions, Reuters reported on Tuesday. The lawsuit, filed by William Heresniak, claimed that Musk's delayed disclosure of a 9.2 percent stake in Twitter allowed him to purchase additional shares at a lesser price before the buyout was announced. It also alleged that the deal's closing took place 1 1/2 months later than planned, causing harm to shareholders. However, U.S. District Judge Charles Breyer dismissed the case, stating that Heresniak lacked standing to sue because he focused on the "wrongs associated with" Musk's buyout rather than the fairness of the buyout itself, reported Reuters. The judge emphasised that the plaintiff did not demonstrate any specific harm resulting from Musk's belated disclosure or the delayed closing. Furthermore, the judge found no proof to support the claim that Musk helped two friends on Twitter's board, Jack Dorsey and Egon Durban, breach their fiduciary duties by favoring their own and Musk's interests. The decision to allow Dorsey to roll over his approximately $1 billion worth of Twitter shares into an equity stake in the new company was determined to be a legitimate reduction in Musk's payment at closing and not an improper diversion of funds from other shareholders. Musk, who was the world's richest man for the most part of 2022, bought Twitter for $44 billion in April last year. After Musk's takeover, the then publicly-traded firm became private. Notably, after Musk completed the takeover in October last year, Twitter has been on a makeover spree. While the lawsuit against Musk has been dismissed, Twitter's troubles are far from over. The microblogging platform continues to face challenges in maintaining ad revenue. Advertisers have expressed concerns about their ads being associated with hate speech or inappropriate content due to the platform's relaxed content rules. Moreover, Musk's recent appointment of former NBCUniversal advertising chief Linda Yaccarino as Twitter's new CEO adds an intriguing twist to the ongoing saga. (Inputs from Reuters)

Elon Musk dodges Twitter lawsuit bullet: Judge dismisses cheating claims 

Uber Technologies Inc&nbsp;has agreed to settle a US&nbsp;civil lawsuit filed by a woman who accused top executives of improperly obtaining her medical records after a company driver raped her in India, according to a court filing on Friday.

In a criminal case in India, the Uber driver was convicted of the rape, which occurred in Delhi in 2014, and sentenced in 2015 to life in prison.

The Indian woman also settled a civil US&nbsp;lawsuit against Uber in 2015, but sued the company again in June in San Francisco federal court saying that shortly after the incident, a US&nbsp;Uber executive &quot;met with Delhi police and intentionally obtained plaintiff&#39;s confidential medical records.&quot; Uber retained a copy of those records, the lawsuit said.

The woman was living in the United States when she filed the lawsuit.

Terms of the settlement were not disclosed in the court document on Friday. Representatives for Uber and an attorney for the woman could not immediately be reached for comment.

The lawsuit cited several media reports which said former Uber Chief Executive Travis Kalanick and others doubted the victim&#39;s account of her ordeal.

&quot;Uber executives duplicitously and publicly decried the rape, expressing sympathy for the plaintiff, and shock and regret at the violent attack, while privately speculating, as outlandish as it is, that she had colluded with a rival company to harm Uber&rsquo;s business,&quot; the lawsuit said.

In a prior statement, Uber said: &quot;No one should have to go through a horrific experience like this, and we&#39;re truly sorry that she&#39;s had to relive it.&quot;

In a criminal case in India, the Uber driver was convicted of the rape, which occurred in Delhi in 2014, and sentenced in 2015 to life in prison.

Uber Technologies Inc has agreed to settle a US civil lawsuit filed by a woman who accused top executives of improperly obtaining her medical records after a company driver raped her in India, according to a court filing on Friday. In a criminal case in India, the Uber driver was convicted of the rape, which occurred in Delhi in 2014, and sentenced in 2015 to life in prison. The Indian woman also settled a civil US lawsuit against Uber in 2015, but sued the company again in June in San Francisco federal court saying that shortly after the incident, a US Uber executive "met with Delhi police and intentionally obtained plaintiff's confidential medical records." Uber retained a copy of those records, the lawsuit said. The woman was living in the United States when she filed the lawsuit. Terms of the settlement were not disclosed in the court document on Friday. Representatives for Uber and an attorney for the woman could not immediately be reached for comment. The lawsuit cited several media reports which said former Uber Chief Executive Travis Kalanick and others doubted the victim's account of her ordeal. "Uber executives duplicitously and publicly decried the rape, expressing sympathy for the plaintiff, and shock and regret at the violent attack, while privately speculating, as outlandish as it is, that she had colluded with a rival company to harm Uber’s business," the lawsuit said. In a prior statement, Uber said: "No one should have to go through a horrific experience like this, and we're truly sorry that she's had to relive it."

Uber agrees to settle US lawsuit filed by India rape victim

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Elon Musk dodges Twitter lawsuit bullet: Judge dismisses cheating claims

Uber agrees to settle US lawsuit filed by India rape victim