Per Bloomberg

Twitter investor Giuseppe Pampena said Elon Musk's decision to buy Twitter at the original agreed price showed how he was bluffing about backing out of the deal.

The securities class-action complaint alleged that his actions resulted in Twitter stock sinking in price, which hurt investors but improved Musk's bargaining position. The suit said Musk said he would blackout to re-negotiate the price with a 25% or $11 billion reduction.

The suit said, "Musk's conduct was fraudulent and illegal." Musk's lawyers didn't give an immediate response.

See full $TWTR flow at unusualwhales.com/flow.