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ElonĀ MuskĀ and Twitter were sued on Friday by a Florida pension fund seeking to stopĀ MuskĀ from quickly completing his planned $44 billion takeover of the social media company.
In a complaint filed in Delaware Chancery Court, the Orlando Police Pension Fund said that under Delaware lawĀ MuskĀ cannot complete the takeover until at least 2025 unless holders of two-thirds of shares not āownedā by him approved.
The lawsuit saidĀ MuskĀ became an āinterested stockholderā after taking a more than 9% Twitter stake, requiring the delay.
MuskĀ also runs electric car company Tesla and is the worldās richest person according to Forbes magazine.
Twitter and its board, including Chief Executive Parag Agrawal, are also defendants.
The lawsuit seeks to delay the mergerās closing until at least 2025, declare that Twitter directors breached their fiduciary duties, and recoup legal fees and costs.
Twitter declined to comment. A lawyer forĀ MuskĀ did not immediately respond to a request for comment.