Posted on 05/07/2022 5:11:12 PM PDT by ocrp1982
In a proposed class action filed in Delaware Chancery Court, the Orlando Police Pension Fund said Delaware law forbade a quick merger because Musk had agreements with other big Twitter shareholders, including his financial adviser Morgan Stanley and Twitter founder Jack Dorsey, to support the buyout.
(Excerpt) Read more at aol.com ...
And..?
This is boilerplate. If they had turned down the buyout or poison pilled it, there would have been another shareholder lawsuit for turning up their noses at a great deal.
Musk needs to walk away and come back at ~$20 after the market gives Twitter a realistic valuation.
The indexes are heading down. Who are they kidding? I wish Elon Musk were trying to buy out some of my investments.
Lawsuits are a part of the process for something like this, it wouldn’t be surprising.
There’s always someone with hurt feelings, and Oh boy there are many tears among some folks over this.
The board would be breaching their fiduciary duties if they didn’t accept the offer, because the stock price of twitter would plummet if this buyout doesn’t occur. I doubt anything will come of this, just a nuisance suit.
Those guys should be first to get fired when Musk takes over.
WHO is going to sue the police Union for fiduciary fault when they are challenging a buyout that gives then a serious profit on currently held shares??
Remember WORLDCOM / Sprint ... after their merger failed due to WORLDCOM’s FCC investigation for fraud.
I think Twitter has already been trying to cover its tracks, eliminating bots and changing algorithms.
Exactly.
These are some disgruntled Leftists who think they should run
the world and everyone else is a peon.
Hope the wind blows back in their face.
Orlando Police Pension Board
October 1, 2020 to September 30, 2022
Jay L. Smith, Chairman, Fifth member appointed by Trustees
jaylsmithopdpension@gmail.comMartin Carmody, Secretary, Trustee appointed by Mayor
martin.carmody@orlando.govFrankie Chisari, Elected Police Officer
frankie.chisari@orlando.govMichael Fields, Vice Chair, Elected Police Officer
michael.fields@orlando.govChristopher P. McCullion, Trustee appointed by Mayor
christopher.mccullion@orlando.govSTAFF:
Katrina Laudeman, Executive Director
katrina.laudeman@orlando.govShannon Hicks, Deputy Executive Director
shannon.hicks@orlando.govMichele Keane, Pension Coordinator
michele.keane@orlando.gov
What a 40% premium is not good enough?
The tooty fruity Mayor of Orlando, Buddy Dyer (his wife divorced him finding him in bed with his “ass buddy”) appoints 2 members of the OPD Pension Board. Talk about political manipulation!
Two elected by the OPD personnel— out of five and two out of five by this queer mayor? What a setup.
The “disney” effect writ large in an essential police force. At war with teaching gender and sex issues to children from kindergarten through 3rd grade— no less!
Former Police Chief of OPD became Congresswoman— who was on the Trump Impeach 2 panel. Cong. Demings- former motorcycle cop (who also repeatedly claims her “daddy” worked on a citrus “Plantation” as a slave-—there never was any such plantation in FL- zero historical record of any. fwiw) Just more Leftist horse hockey.
Eh. It was MCI. You don’t seem to remember.
MCI = WORLDCOM = MCI
Must delay until after the elections.....
Sprint?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.