Posted on 05/13/2022 5:11:49 AM PDT by zeestephen
Musk, who is expected to serve as Twitter's temporary CEO if the deal goes ahead, would have to pay a $1 billion breakup fee should he choose to walk away. Musk is worth more than $220 billion.
(Excerpt) Read more at cnbc.com ...
about a third 1/3 of accounts are spam bot fake accounts.
Musk should get a better deal since Jack and Co. cooked the books for years.
Fake accounts a legitimate concern. Musk could get a better deal, or he walks for less than .5% of his net worth.
Uh oh. So, public opinion has been driven by bots programmed by mostly foreign techs working for Twitter? Giant digital Trojan Horse.
Isn’t it a crime to lie to shareholders? Plus they lied to make the sale. DOJ should start locking people up.
Good luck on that deal.
I’d bet on that.
If Musk stays or goes, we may finally know the extent of fake accounts/bots that have been driving tweeter all these years. I guess 25%.
Biden Admin Launches Investigation into Elon Musk over Twitter Purchase.
The act, (Pub.L. 107–204 (text) (PDF), 116 Stat. 745, enacted July 30, 2002), also known as the "Public Company Accounting Reform and Investor Protection Act" (in the Senate) and "Corporate and Auditing Accountability, Responsibility, and Transparency Act" (in the House) and more commonly called Sarbanes–Oxley, Sarbox or SOX, contains eleven sections that place requirements on all U.S. public company boards of directors and management and public accounting firms. A number of provisions of the Act also apply to privately held companies, such as the willful destruction of evidence to impede a federal investigation
Musk will either own Twitter and make important changes, or ...
Musk will reveal the lies and crimes of Twitter’s corporate accounting and destroy the company as he walks away from the deal.
Win-Win.
Makes you wonder how accurate the Nielson Ratings are. I have always suspected that TV shows and “News” Broadcasters have cooked the books to charge higher advertising rates.
AND...to push the agenda that we all love seeing gays in tv shows and trannies and that abortion is such a compassionate act, etc.
I’m assuming this is all part of some kind of grand strategy … because I can’t imagine anyone with an IQ over 70 would have bought a social media platform without knowing that huge numbers of its accounts are fake.
Twitter down 12.9% at 5:31 AM PDT.
If it can be demonstrated that Twitter has been misrepresenting its user data (effectively defrauding its advertisers in the process), then Musk may not even lose his $1 billion “exit fee” to get out of the deal.
Jack is no longer with the company and it has been publicly traded for a few years.
Sarbanes-Oxley compliance is no walk in the park, nor does it carry a small price tag for companies who traditionally have underfunded or undervalued the accounting function.
To this day, I question why Musk committed $1 billion to the deal that can be lost if he backs out. There was a feeling someone was going to put him into a position of forfeiting the money.
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