Twitter sues to force Musk to complete his $44B acquisition

[EvilEyeFleegle]

As I suspected..Musk is being sued by Twitter..and he's probably going to lose.

Twitter sues to force Musk to complete his $44B acquisition

Musk and Twitter have been bracing for a legal fight since the billionaire said Friday he was backing off of his April agreement to buy the company.
Twitter’s lawsuit opens with a sharply-worded accusation: “Musk refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests.”
“Having mounted a public spectacle to put Twitter in play, and having proposed and then signed a seller-friendly merger agreement, Musk apparently believes that he — unlike every other party subject to Delaware contract law — is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away,” the suit says.
Twitter filed its lawsuit in the Delaware Court of Chancery, which frequently handles business disputes among the many corporations, including Twitter, that are incorporated there.
As part of the April deal, Musk and Twitter had agreed to pay each other a $1 billion breakup fee if either was responsible for the deal falling through. The company could have pushed Musk to pay the hefty fee but is going farther than that, trying to force him to complete the full $44 billion purchase approved by the company’s board.
“Oh the irony lol,” Musk tweeted after Twitter filed the lawsuit, without explanation.
The arguments and evidence laid out by Twitter are “very strong and compelling” and likely to get a receptive ear in the Delaware court, which doesn’t look kindly on sophisticated buyers backing off of deals, said Brian Quinn, a law professor at Boston College.
“They make a very strong argument that this is just buyer’s remorse,” Quinn said. “You have to eat your mistakes in the Delaware Chancery Court. That’s going to work very favorably for Twitter.”

 

[Bootney Lee Farnsworth]

Yeah those lying cocksuckers are gonna lose. They way over inflated the value and lied about the number ******* bots they have.

 

[johngaltshrugged]

As I suspected..Musk is being sued by Twitter..and he's probably going to lose.

Twitter sues to force Musk to complete his $44B acquisition

Musk and Twitter have been bracing for a legal fight since the billionaire said Friday he was backing off of his April agreement to buy the company.
Twitter’s lawsuit opens with a sharply-worded accusation: “Musk refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests.”
“Having mounted a public spectacle to put Twitter in play, and having proposed and then signed a seller-friendly merger agreement, Musk apparently believes that he — unlike every other party subject to Delaware contract law — is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away,” the suit says.
Twitter filed its lawsuit in the Delaware Court of Chancery, which frequently handles business disputes among the many corporations, including Twitter, that are incorporated there.
As part of the April deal, Musk and Twitter had agreed to pay each other a $1 billion breakup fee if either was responsible for the deal falling through. The company could have pushed Musk to pay the hefty fee but is going farther than that, trying to force him to complete the full $44 billion purchase approved by the company’s board.
“Oh the irony lol,” Musk tweeted after Twitter filed the lawsuit, without explanation.
The arguments and evidence laid out by Twitter are “very strong and compelling” and likely to get a receptive ear in the Delaware court, which doesn’t look kindly on sophisticated buyers backing off of deals, said Brian Quinn, a law professor at Boston College.
“They make a very strong argument that this is just buyer’s remorse,” Quinn said. “You have to eat your mistakes in the Delaware Chancery Court. That’s going to work very favorably for Twitter.”

Wow, obviously written by someone who understands nothing about contracts, purchase agreements, disclosures & due diligence.
Twits is saying "we're not suing for damages, this is for specific performance". Bold move for the party not fulfilling contractual obligations.
In the real world, the buyer is entitled to full disclosures that the seller is required to provide right away. The fact twits repeatedly denied Elon's requests for full disclosure on the actual inside knowledge on bots & other items brought to light makes it more likely twits will have to pay damages themselves.
Twits is caught in fraud with false filings to the SEC

 

[Oddball]

Yesterday's news.....Dude, look at the "similar threads" listed before you post dupes.

IBTL

 

[westwall]

As I suspected..Musk is being sued by Twitter..and he's probably going to lose.

Twitter sues to force Musk to complete his $44B acquisition

Musk and Twitter have been bracing for a legal fight since the billionaire said Friday he was backing off of his April agreement to buy the company.
Twitter’s lawsuit opens with a sharply-worded accusation: “Musk refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests.”
“Having mounted a public spectacle to put Twitter in play, and having proposed and then signed a seller-friendly merger agreement, Musk apparently believes that he — unlike every other party subject to Delaware contract law — is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away,” the suit says.
Twitter filed its lawsuit in the Delaware Court of Chancery, which frequently handles business disputes among the many corporations, including Twitter, that are incorporated there.
As part of the April deal, Musk and Twitter had agreed to pay each other a $1 billion breakup fee if either was responsible for the deal falling through. The company could have pushed Musk to pay the hefty fee but is going farther than that, trying to force him to complete the full $44 billion purchase approved by the company’s board.
“Oh the irony lol,” Musk tweeted after Twitter filed the lawsuit, without explanation.
The arguments and evidence laid out by Twitter are “very strong and compelling” and likely to get a receptive ear in the Delaware court, which doesn’t look kindly on sophisticated buyers backing off of deals, said Brian Quinn, a law professor at Boston College.
“They make a very strong argument that this is just buyer’s remorse,” Quinn said. “You have to eat your mistakes in the Delaware Chancery Court. That’s going to work very favorably for Twitter.”

The stupid is strong in you I see. Fraud is an immediate grounds for a deal to stop. twitler has refused to give Musk the details he needs to proceed.

In other words, twitler is fucked.

Not Musk.

 

[whitehall]

First they hated him so much that Twitter personnel threatened to quit. Now that the Twitter stock is going down they love him.

 

[westwall]

Yesterday's news.....Dude, look at the "similar threads" listed before you post dupes.

IBTL

The idiot is a bot, or a sock anyway. He should be able to remember his stupid posts!

 

[westwall]

First they hated him so much that Twitter personnel threatened to quit. Now that the Twitter stock is going down they love him.

That's what happens when you have a "C" student as your CEO.

 

[Lastamender]

Musk 1, Twitter 0.

 

[airplanemechanic]

It's kinda like buying a used car.

Even if you buy it sight unseen, some things are assumed. Like you can't sell a car and say it has a V8 when it has a V6 and then once the seller gets it and says this is not what I bought, claim "buyers remorse." Doesn't work that way. He made the agreement to buy it based on the number of users. If he finds out a good number of those are bots and not actual people, then he did not get what he paid for, thus he can back out of the deal.

 

[JGalt]

Twitter is damaged goods. I doubt that Twitter's stockholders would like what Musk would do to it if he were forced to buy it. Neither would all those leftist faggots who inhabit that cesspool.

 

[JGalt]

Musk.

 

[CrusaderFrank]

As I suspected..Musk is being sued by Twitter..and he's probably going to lose.

Twitter sues to force Musk to complete his $44B acquisition

Musk and Twitter have been bracing for a legal fight since the billionaire said Friday he was backing off of his April agreement to buy the company.
Twitter’s lawsuit opens with a sharply-worded accusation: “Musk refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests.”
“Having mounted a public spectacle to put Twitter in play, and having proposed and then signed a seller-friendly merger agreement, Musk apparently believes that he — unlike every other party subject to Delaware contract law — is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away,” the suit says.
Twitter filed its lawsuit in the Delaware Court of Chancery, which frequently handles business disputes among the many corporations, including Twitter, that are incorporated there.
As part of the April deal, Musk and Twitter had agreed to pay each other a $1 billion breakup fee if either was responsible for the deal falling through. The company could have pushed Musk to pay the hefty fee but is going farther than that, trying to force him to complete the full $44 billion purchase approved by the company’s board.
“Oh the irony lol,” Musk tweeted after Twitter filed the lawsuit, without explanation.
The arguments and evidence laid out by Twitter are “very strong and compelling” and likely to get a receptive ear in the Delaware court, which doesn’t look kindly on sophisticated buyers backing off of deals, said Brian Quinn, a law professor at Boston College.
“They make a very strong argument that this is just buyer’s remorse,” Quinn said. “You have to eat your mistakes in the Delaware Chancery Court. That’s going to work very favorably for Twitter.”

LOL!!

Twitter WANTS to admit that they committed Securities Fraud??

 

[lantern2814]

As I suspected..Musk is being sued by Twitter..and he's probably going to lose.

Twitter sues to force Musk to complete his $44B acquisition

Musk and Twitter have been bracing for a legal fight since the billionaire said Friday he was backing off of his April agreement to buy the company.
Twitter’s lawsuit opens with a sharply-worded accusation: “Musk refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests.”
“Having mounted a public spectacle to put Twitter in play, and having proposed and then signed a seller-friendly merger agreement, Musk apparently believes that he — unlike every other party subject to Delaware contract law — is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away,” the suit says.
Twitter filed its lawsuit in the Delaware Court of Chancery, which frequently handles business disputes among the many corporations, including Twitter, that are incorporated there.
As part of the April deal, Musk and Twitter had agreed to pay each other a $1 billion breakup fee if either was responsible for the deal falling through. The company could have pushed Musk to pay the hefty fee but is going farther than that, trying to force him to complete the full $44 billion purchase approved by the company’s board.
“Oh the irony lol,” Musk tweeted after Twitter filed the lawsuit, without explanation.
The arguments and evidence laid out by Twitter are “very strong and compelling” and likely to get a receptive ear in the Delaware court, which doesn’t look kindly on sophisticated buyers backing off of deals, said Brian Quinn, a law professor at Boston College.
“They make a very strong argument that this is just buyer’s remorse,” Quinn said. “You have to eat your mistakes in the Delaware Chancery Court. That’s going to work very favorably for Twitter.”

No, Twitter just lost. Musk revealed that Twitter refuses to release how many of their accounts are actually bots. Now they’re taking him to court where they’ll be forced to reveal that information and more. Oops.

 

[JGalt]

No, Twitter just lost. Musk revealed that Twitter refuses to release how many of their accounts are actually bots. Now they’re taking him to court where they’ll be forced to reveal that information and more. Oops.

The "discovery phase" of that lawsuit is going to be revealing.

 

[Dekster]

No, Twitter just lost. Musk revealed that Twitter refuses to release how many of their accounts are actually bots. Now they’re taking him to court where they’ll be forced to reveal that information and more. Oops.

They may not have to reveal it since it is not relevant to their claim or to the merger contract he signed that waived normal due diligence. They further gave his team access to their data to farm himself even though they weren't required to. I think Musk is in trouble. Whether or not the court makes him perform is a different issue. I think he is going to have to buy or fork over the billion dollars.

 

[struth]

As I suspected..Musk is being sued by Twitter..and he's probably going to lose.

Twitter sues to force Musk to complete his $44B acquisition

Musk and Twitter have been bracing for a legal fight since the billionaire said Friday he was backing off of his April agreement to buy the company.
Twitter’s lawsuit opens with a sharply-worded accusation: “Musk refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests.”
“Having mounted a public spectacle to put Twitter in play, and having proposed and then signed a seller-friendly merger agreement, Musk apparently believes that he — unlike every other party subject to Delaware contract law — is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away,” the suit says.
Twitter filed its lawsuit in the Delaware Court of Chancery, which frequently handles business disputes among the many corporations, including Twitter, that are incorporated there.
As part of the April deal, Musk and Twitter had agreed to pay each other a $1 billion breakup fee if either was responsible for the deal falling through. The company could have pushed Musk to pay the hefty fee but is going farther than that, trying to force him to complete the full $44 billion purchase approved by the company’s board.
“Oh the irony lol,” Musk tweeted after Twitter filed the lawsuit, without explanation.
The arguments and evidence laid out by Twitter are “very strong and compelling” and likely to get a receptive ear in the Delaware court, which doesn’t look kindly on sophisticated buyers backing off of deals, said Brian Quinn, a law professor at Boston College.
“They make a very strong argument that this is just buyer’s remorse,” Quinn said. “You have to eat your mistakes in the Delaware Chancery Court. That’s going to work very favorably for Twitter.”

didnt he already sue for fraud?

 

[struth]

Sorry….he asked them to turn over information before he’d sign…including info on fake accounts…_and they wouldn’t…he said no deal…

sounds like they want to hide some information

he should easily win

 

[airplanemechanic]

They may not have to reveal it since it is not relevant to their claim or to the merger contract he signed that waived normal due diligence. They further gave his team access to their data to farm himself even though they weren't required to. I think Musk is in trouble. Whether or not the court makes him perform is a different issue. I think he is going to have to buy or fork over the billion dollars.

"Waiving due diligence" doesn't mean accepting fraud.

Like I said before, just like buying a used car sight unseen. You can agree to purchase it and even sign documents, but if it's discovered that you sold someone something through fraud like saying it runs when it doesn't, the whole deal is off.

 

[Quasar44]

As I suspected..Musk is being sued by Twitter..and he's probably going to lose.

Twitter sues to force Musk to complete his $44B acquisition

Musk and Twitter have been bracing for a legal fight since the billionaire said Friday he was backing off of his April agreement to buy the company.
Twitter’s lawsuit opens with a sharply-worded accusation: “Musk refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests.”
“Having mounted a public spectacle to put Twitter in play, and having proposed and then signed a seller-friendly merger agreement, Musk apparently believes that he — unlike every other party subject to Delaware contract law — is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away,” the suit says.
Twitter filed its lawsuit in the Delaware Court of Chancery, which frequently handles business disputes among the many corporations, including Twitter, that are incorporated there.
As part of the April deal, Musk and Twitter had agreed to pay each other a $1 billion breakup fee if either was responsible for the deal falling through. The company could have pushed Musk to pay the hefty fee but is going farther than that, trying to force him to complete the full $44 billion purchase approved by the company’s board.
“Oh the irony lol,” Musk tweeted after Twitter filed the lawsuit, without explanation.
The arguments and evidence laid out by Twitter are “very strong and compelling” and likely to get a receptive ear in the Delaware court, which doesn’t look kindly on sophisticated buyers backing off of deals, said Brian Quinn, a law professor at Boston College.
“They make a very strong argument that this is just buyer’s remorse,” Quinn said. “You have to eat your mistakes in the Delaware Chancery Court. That’s going to work very favorably for Twitter.”

Musk knew that and was able to cash his Tesla stock for 9b rather than only a few B