Posted on 07/08/2022 4:01:52 PM PDT by conservative98
Twitter claims it will take Elon Musk to court after the Tesla and SpaceX CEO announced his intention to pull out of a proposed $44 billion buyout of the company.
In a message posted to the platform, Twitter Chairman of the Board Bret Taylor said the company plans to sue Musk to ensure the original agreement is honored.
(Excerpt) Read more at breitbart.com ...
I thought he had a $1 billion break-up clause e.g. if he didn’t buy it he had to pay $1 billion. I’m sure that’s not what twitter thinks of as the “original terms” though, and I’m fairly confident that Musk believes he (and all shareholders) was defrauded by their public disclosures about user data. Daily active users can be easily fudged. Bot accounts activated by other bots and they can make a billion tweets a day if they wanted to.
“They likely misrepresented their value at the time he bid on them.”
This also impacted existing investors. The board will want to enforce it because they are in trouble. The SEC should also be investigating but are probably corrupted as well.
Elon Musk didn’t get to where he is today by being stupid so I am sure that he had very solid advice from his counsel before pulling out.
Duck season
Rabbit season
Duck season
Rabbit season
Years ago I hired a company to do social promotion for my business - to get me “followers” and “likes” etc. They did a great job too. I have a massive list. Turns out whenever I send out a mass mail to that list I get thousands of clicks from Pakistan. All they did was farm the business out to a farm that creates followers for a fee. What a waste. I estimate only 10% of my lists are real people and fortunately I was able to segregate most of the phony accounts from those that are real leads.
good luck aholes
Maybe this was the plan all along... forced implosion.
With all the exposed Twitter fraud, he would be purchasing a lot of liability.
Material Adverse Change or Effect and Sarbanes-Oxley
I thought Twitter didn’t want the merger anyway, other than the investors.
Twitter committed fraud which negates any agreement
MAC = Material Adverse Change
SOX = Sarbanes Oxley Act
Both there to help protect shareholders in acquisition agreements among other things.
I do think that was Musk’s intention but we’ll never know for sure.
Funny you should mention that. My cat has a Twitter account and follows Elon. She just asked another person there, who said he was deleting his account, how to do it. We’ve had fun with other cats but we’re bored now.
I don’t blame TWT. Musk overpaid in the proposed deal and he is trying to bail. The TWT board doesn’t want to give up this gift horse.
It is to some extent, possibly even more than I have suspected.
They used it heavily during the conflict in Northern Syria.
I saw that.
The Twitter Board can’t afford to face discovery in a courtroom and have court documents show just how many of their “users” are bots.
They told Musk that the bots were less than 5%. That is a hoot.
It is more than 20%, possibly much higher.
On the good side, quite a few conservatives came back when they though Elon was going to take control. I am convinced he fully intended to, until he saw how really bad the fraud factor really was.
They have stopped harassing me, since he said he was taking over. I liked that, but they still have my data throttled. And my impressions are 25% of what they were 2 years ago.
“Come to Twitter: where we put the ‘Bot’ in Bother!”
That’s why Twitter is screwed. Musk will either get a better deal or he will expose the fraud and ruin their business model. Either way it will be unable to return to status quo ante.
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