Giuseppe Pampena v. Elon R.Musk

IN THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF CALIFORNIA 7 GIUSEPPE PAMPENA, et al., Case No. 22-cv-05937-CRB

Plaintiffs,

ORDER DENYING MOTION FOR

v.

JUDGMENT ON THE PLEADINGS

AND MOTION TO LIFT STAY

ELON MUSK, Defendant.

In December 2023, this Court ruled that Plaintiffs plausibly allege a securities violation as to three statements made by Defendant Elon Musk (“Musk”) after he entered into a deal to acquire Twitter, Inc. (“Twitter”). MTD Order (dkt. 48). Musk now moves for judgment on the pleadings, largely making the exact same arguments that he made at the motion to dismiss stage and which this Court explicitly considered and rejected. Just as Musk was allegedly bound by his waiver of due diligence after entering into the Merger Agreement, Musk is bound by this Court’s decision that Plaintiffs’ case can move past the pleadings stage. The Court DENIES Musk’s motion, and in turn, DENIES Plaintiffs’ motion to lift the discovery stay as moot. I. BACKGROUND A. Relevant Factual…