Musks 44 Billion Dollar buyout challenged by shareholder

Rueters ^ | Jonathan Stempel

[spacejunkie2001]

agree with your assessment of corrupt orlando, which is part of corrupt orange county. I’m in WP which is well on it’s way to the same crappy corruption.

[dearolddad]

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.

Best argument going for looser pays all court costs.

[StAnDeliver]

"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!"

This is some crazy shite. Their suits against Twitter actually go back to 2021. They venue-shopped Delaware's Chancery courts, and lucked out on this weirdo who likes to hear himself talk:

Meet Travis Laster, Unusual Delaware Chancery Judge Who Focuses on 'Darker Underside' of Cases

"The newest judge in one of the nation’s most respected corporate courts is unusually outspoken about what he calls “the darker underside” of securities class actions and his opinion of lawyers on both sides of the case.

Vice Chancellor Travis Laster, who is in his early 40s, calls plaintiffs attorneys who rush to file suit as soon as a corporate deal is announced “pilgrims,” because, like those who came to this country on the Mayflower centuries ago, they are the first to arrive and quick to settle, reports Reuters. He refers to those who file often as “frequent fliers.”

However, he has also taken defense lawyers to task. “Defense lawyers benefit from this game,” the judge said at a December hearing, reports another Reuters article. “They get to bill hours without any meaningful reputational risk from a loss. They then get to get a cheap settlement for their client. Disclosures are cheap.”