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head shot Elon Musk with hand up Tesla CEO and space X founder Elon Musk. (Photo: Naresh777/Shutterstock)

(Bloomberg) — Elon Musk’s $44 billion buyout of Twitter Inc. was challenged in a lawsuit by a Florida pension fund that argues the deal can’t close before 2025 because Musk was an “interested shareholder” in the social networking platform.

The Orlando Police Pension Fund filed suit in Delaware Chancery Court on Thursday. According to the complaint, Musk had agreements with other major Twitter shareholders — including founder Jack Dorsey — to rely on their holdings when offering to take the company private last month. Those arrangements triggered a Delaware law that calls for a three-year delay in closing such deals, the fund claims.

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