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

[CrusaderFrank]

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.

The company committing securities fraud is "not relevant"? Really? Are you sure?

 

[JoeB131]

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

This is something that Musk should have determined before he made an offer... if it's true.

But he wanted to buy Twitter because people were saying mean things about him.

 

[struth]

This is something that Musk should have determined before he made an offer... if it's true.

But he wanted to buy Twitter because people were saying mean things about him.

he is saying they violated the agreement he made the offer contingent on certain things

it’s become clear twitter won’t live up to their end of the deal because they are hiding things

 

[JoeB131]

he is saying they violated the agreement he made the offer contingent on certain things

it’s become clear twitter won’t live up to their end of the deal because they are hiding things

Oh, bullshit. This thing about the Bot accounts is a pretense to get out of a deal he realized was a bad idea.

He realized that he wouldn't be able to run Twitter the way he wanted to, and that he was spending 44 billion dollars on something that simply wasn't going to be profitable, ever. So he's looking for an excuse to get out.

He shouldn't have made the deal to start with. Get out your checkbook, Elon.

 

[westwall]

Oh, bullshit. This thing about the Bot accounts is a pretense to get out of a deal he realized was a bad idea.

He realized that he wouldn't be able to run Twitter the way he wanted to, and that he was spending 44 billion dollars on something that simply wasn't going to be profitable, ever. So he's looking for an excuse to get out.

He shouldn't have made the deal to start with. Get out your checkbook, Elon.

I see the stupid is strong in you too. It is more likely that you will become emperor of the known universe, then Musk will lose anything.

Face it, your record of predictions, sucks.

0 for 23 the last time I checked.

 

[struth]

Oh, bullshit. This thing about the Bot accounts is a pretense to get out of a deal he realized was a bad idea.

He realized that he wouldn't be able to run Twitter the way he wanted to, and that he was spending 44 billion dollars on something that simply wasn't going to be profitable, ever. So he's looking for an excuse to get out.

He shouldn't have made the deal to start with. Get out your checkbook, Elon.

then why doesn’t twitter just turn over the info?

the reality is they don’t want the world to see that they were running dembot accounts and spreading propaganda and lies for the party of the klan and oppression.

 

[CrusaderFrank]

This is something that Musk should have determined before he made an offer... if it's true.

But he wanted to buy Twitter because people were saying mean things about him.

They likely committed Securities Fraud in the SEC filing claiming less than 5% were bots!!! Musk relied on them filing true and accurate with the SEC! It's a public disclosure

 

[CrusaderFrank]

I bet Twitter has the same percent of bots as Biden had fake votes like 12% to 18%

 

[westwall]

I bet Twitter has the same percent of bots as Biden had fake votes like 12% to 18%

I am guessing it is closer to 20 to 25 percent.

 

[CrusaderFrank]

I am guessing it is closer to 20 to 25 percent.

Probably.

 

[Dekster]

"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.

It isn't fraud if they explained to him how they determined their numbers and gave him the chance to figure it out himself using a different methodology.

 

[Dekster]

The company committing securities fraud is "not relevant"? Really? Are you sure?

The company is not the one who committed securities fraud. Musk has done it twice in relation to twitter and is already under investigation for it. Once by acquiring more shares than allowable prior to publicly disclosing it and the second time by his tweet declaring the deal was on hold due to fake accounts when there is no putting the deal on hold and he had no basis for making the claim. He has a history of tweeting himself into legal trouble like him claiming he had the money to take Tesla private when he didn't.

 

[Bootney Lee Farnsworth]

This is something that Musk should have determined before he made an offer... if it's true.

This is something he requested and they refused.

They committed fraud AND violate SEC regulations. He blew them up and will not only sink Twitter and pay about 1/2 the offer price, but he will also get some of those woke communist twats a trip to a federal poind-me-in-the-ass prison.

But he wanted to buy Twitter because people were saying mean things about him.

I can only assume he tried to buy twitter because he either believed there was value there (nobody will piss away $40 billion for a grudge) or he knew they were full of shit and figure he could get it on a fire sale after he exposed their fraudulently inflated user figures, which is a HUGE value lie.

 

[airplanemechanic]

It isn't fraud if they explained to him how they determined their numbers and gave him the chance to figure it out himself using a different methodology.

It's fraud. He doesn't have to figure anything out himself. If he wants to know the numbers, he is entitled to them. Either lying or denying is fraud. Buying something sight unseen does not mean a cat and mouse game of lies and deceit.

 

[Dekster]

It's fraud. He doesn't have to figure anything out himself. If he wants to know the numbers, he is entitled to them. Either lying or denying is fraud. Buying something sight unseen does not mean a cat and mouse game of lies and deceit.

He waived his right to them when he signed the contract. The egomaniac was loving all the attention and was in a rush to make a deal and screwed himself over. He got outplayed by twitter and now he is going to pay dearly for it.

 

[airplanemechanic]

He waived his right to them when he signed the contract. The egomaniac was loving all the attention and was in a rush to make a deal and screwed himself over. He got outplayed by twitter and now he is going to pay dearly for it.

You never waive your right to honesty.

 

[BlueGin]

then why doesn’t twitter just turn over the info?

the reality is they don’t want the world to see that they were running dembot accounts and spreading propaganda and lies for the party of the klan and oppression.

And scamming their shareholders.

 

[justoffal]

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.”

Twitter will also lose....they will be forced to be more forthcoming about their bot numbers and the subsequent revaluation will decrease the purchase price considerably.
I believe Musk was ready for each and every step of this process up to and including the court actions.

JO

 

[JoeB131]

I see the stupid is strong in you too. It is more likely that you will become emperor of the known universe, then Musk will lose anything.

Face it, your record of predictions, sucks.

0 for 23 the last time I checked.

Then your tracking isn't very good. I predicted Biden would win. Which he did.
I predicted Trump would fuck up the response to Covid. MAN did he.
I could go on... but Musk really doesn't have a legal leg to stand on. He signed a contract where he either buys Twitter or he pays Twitter a Billion dollars. It's pretty much an iron clad contract.

 

[JoeB131]

This is something he requested and they refused.

They committed fraud AND violate SEC regulations. He blew them up and will not only sink Twitter and pay about 1/2 the offer price, but he will also get some of those woke communist twats a trip to a federal poind-me-in-the-ass prison.

He should have asked these questions BEFORE he signed a contract..

Remember, you were the ones who said Musk was going to change Twitter and Restore Donald Trump to his rightful place and let all the wingnuts post all the racist shit they wanted, and damn, wait, he found out he couldn't do that... um... how do I get out of this, oh, yeah, I can dispute how many fake accounts there are on Twitter, even though that was pretty much common knowledge when we started.

I can only assume he tried to buy twitter because he either believed there was value there (nobody will piss away $40 billion for a grudge) or he knew they were full of shit and figure he could get it on a fire sale after he exposed their fraudulently inflated user figures, which is a HUGE value lie.

Or he's just a fucking idiot. It always amazes me you guys think wealth equates to intelligence and merit.