Elon Musk says he's terminating $44B Twitter buyout deal

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The meme is ridiculous and utterly false. I guess the need to believe in Musk is so strong that any lie, no matter how improbable, will serve to shore up the desperate need to believe in Musk the superhero. I guess the genius also foresaw the collapse in the price of Tesla stock?

"Corporate-law experts say Twitter appears to be on sounder legal footing than Mr. Musk. The filing didn’t provide evidence to back up his assertion that the estimate was inaccurate or an alternate calculation. “This isn’t even in the ballpark,” said Zohar Goshen, professor of transactional law at Columbia Law School, adding that the impact on a company’s value needs to be so dramatic that its value would be halved, for example."

https://www.wsj.com/articles/elon-musk-twitter-strange-legal-fight-11657488572?mod=hp_lead_pos5

 

 

 

 

Edited July 11, 2022 by placeholder

[Scott]

Trolling meme removed.  

 

[Mac Mickmanus]

https://www.bbc.co.uk/news/business-62121226

 

Twitter shares fall as Elon Musk backs out of deal

 

John Coffee, a Colombia Law School professor and a former adviser to the New York Stock Exchange and Nasdaq, told the BBC that Mr Musk didn't have a "great legal argument".

"It'll be a big battle, but I would predict it'll be quietly settled," he said. "I think Mr Musk doesn't expect to come out with a victory. I expect that he's hoping that he can knock another 10 or 20 billion off the price he agreed to pay."

[lemmie]

JAIL for Dorsey? If Musk’s right and Twitter’s been lying, It’s securities fraud and a HUGE deal, says Gasparino.

“Here’s what I will say, Howie. That this is a huge, huge story because if Elon Musk is right, if Twitter since its IPO in 2013 has been lying about its bots, you know, those fake accounts, that it’s not 5% or less. If they’ve been putting out public statements of that nature that are lies … man, that’s called securities fraud,” said Gasparino. “That means jack Dorsey and all the other guys that are running, have run Twitter can go to jail.”

https://therightscoop.com/jail-for-dorsey-if-musks-right-and-twitters-been-lying-its-securities-fraud-and-a-huge-deal-says-gasparino/

 

[lemmie]

12 hours ago, Mac Mickmanus said:

I expect that he's hoping that he can knock another 10 or 20 billion off the price he agreed to pay."

Although many stocks are dropping in value, twitter is outside the norms and just about ripe for Musk to make a more suitable offer for the buyout.

If no deal, Twitter stock prices: RIP.

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2 minutes ago, lemmie said:

Although many stocks are dropping in value, twitter is outside the norms and just about ripe for Musk to make a more suitable offer for the buyout.

If no deal, Twitter stock prices: RIP.

Which comment takes no account of the specific performance clause in the contract signed by Musk which guaranteed the premium price that Musk agreed to.

[lemmie]

11 minutes ago, placeholder said:

Which comment takes no account of the specific performance clause in the contract signed by Musk which guaranteed the premium price that Musk agreed to.

see ya in court.

The tale shall unwind in court, or maybe in a boardroom deal, depends on twitters liability for securities fraud and their bot tales.

Time will tell, but my monies on a deal.

Edited July 12, 2022 by lemmie

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Just now, lemmie said:

see ya in court.

The tale shall unwind in court, or maybe in a boardroom deal, depends on twitters liability for securities fraud and their bot tales.

Time will tell, but my monies on a deal.

The likelihood of a deal is good. But your claims about twitter's liability for fraud are clearly nonsensical. You clearly don't have a clue about the law in cases like this. Twitter has always been careful to comply with SEC regulations in its filings. It always stated that its figures were accurate to the best of its belief. What makes your argument even more ridiculous is that one of the tasks that Musk explicitly and publicly set for himself once he purchased Twitter was to clean up the bots which he claimed was a far more serious matter than Twitter let on.  So he's going to sue Twitter for a problem he knew about in advance of the purchase? On what grounds? That he's got a split personality?

[lemmie]

"Mr. Musk is terminating the Merger Agreement because Twitter is in material breach of multiple provisions of that Agreement, appears to have made false and misleading representations upon which Mr. Musk relied when entering into the Merger Agreement, and is likely to suffer a Company Material Adverse Effect (as that term is defined in the Merger Agreement)."

 

Even Biden has millions of fake followers. Twitter is likely hiding some things at this point and the least painful course for them is to deal now in earnest before their stock prices crash. If they are shown to have misrepresented  numbers or assertions in their SEC filings they could be in for a rough ride, investors could use this against the company if the stock price falls.  The leaders of the company can be in grave trouble.

 

"Almost half of President Joe Biden's current 22.2 million followers on Twitter are fake accounts, according to an audit tool provided by software company SparkToro."

https://www.newsweek.com/half-joe-biden-twitter-followers-are-fake-audit-elon-musk-1707244

[lemmie]

1 hour ago, lemmie said:

"Mr. Musk is terminating the Merger Agreement because Twitter is in material breach of multiple provisions of that Agreement, appears to have made false and misleading representations upon which Mr. Musk relied when entering into the Merger Agreement, and is likely to suffer a Company Material Adverse Effect (as that term is defined in the Merger Agreement)."

 

Even Biden has millions of fake followers. Twitter is likely hiding some things at this point and the least painful course for them is to deal now in earnest before their stock prices crash. If they are shown to have misrepresented  numbers or assertions in their SEC filings they could be in for a rough ride, investors could use this against the company if the stock price falls.  The leaders of the company can be in grave trouble.

 

"Almost half of President Joe Biden's current 22.2 million followers on Twitter are fake accounts, according to an audit tool provided by software company SparkToro."

https://www.newsweek.com/half-joe-biden-twitter-followers-are-fake-audit-elon-musk-1707244

https://www.cnn.com/2022/07/08/tech/elon-musk-twitter-deal-exit/index.html

 

https://thehill.com/policy/technology/3550561-musk-terminates-agreement-to-buy-twitter/

[SunnyinBangrak]

1 hour ago, lemmie said:

"Mr. Musk is terminating the Merger Agreement because Twitter is in material breach of multiple provisions of that Agreement, appears to have made false and misleading representations upon which Mr. Musk relied when entering into the Merger Agreement, and is likely to suffer a Company Material Adverse Effect (as that term is defined in the Merger Agreement)."

 

Even Biden has millions of fake followers. Twitter is likely hiding some things at this point and the least painful course for them is to deal now in earnest before their stock prices crash. If they are shown to have misrepresented  numbers or assertions in their SEC filings they could be in for a rough ride, investors could use this against the company if the stock price falls.  The leaders of the company can be in grave trouble.

 

"Almost half of President Joe Biden's current 22.2 million followers on Twitter are fake accounts, according to an audit tool provided by software company SparkToro."

https://www.newsweek.com/half-joe-biden-twitter-followers-are-fake-audit-elon-musk-1707244

Twitter will be forced to disclose all internal memos in court. This is an unprecedented disaster for Twitter. We will know all about their real thoughts on fake accounts/bots, and also their censoring conservatives, which didn't they previously deny under oath, yet Veritas did some stunning investigative journalism and found Twitter was being run for political influence (helping democrats) rather than being run for profit. Against their. fiduciary duty to shareholders. Ouch!

 

End of the day, Twitter is in deep, deep trouble. And it's all their own doing. So satisfying watching this clumsy propaganda outlet come a cropper. Mr Musk, bless you, this is one thrilling ride.

 

https://www.dailymail.co.uk/news/article-10823295/Twitter-does-not-believe-free-speech-Twitter-engineer-recorded-saying-censor-right.html

[Sparktrader]

On 7/9/2022 at 5:47 PM, Mac Mickmanus said:

Could be that he agreed on the price for Twitter based on their user figures, then became aware that many of those users were actually bots and not real people at all 

Hard to see value in it. Fake accounts etc

 

He should start his own search engine and platform for speech.

[zzaa09]

Beware of the dominant paradigm.

Appears by way of numerous disguises. 

 

 

.....and certainly not recognized by most, in any form.

[Bkk Brian]

????

#ElonMusk responded to Former US President Donald #Trump’s comments over the weekend that Musk was not going to buy #Twitter and that he had got himself a mess.

 

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Here's a link to an excellent article that looks at Musk's claim. It's an interview of a specialist in merger and acquisitions.(" Brian JM Quinn, a professor at Boston College Law School whose research focuses on corporate law and mergers and acquisitions.") It's quite damning of Musk's position.

https://www.theatlantic.com/ideas/archive/2022/07/musk-twitter-deal-break-lawsuit-claims/670515/

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More bad news for musk. He wanted the trial date to be moved to next year. Twitter asked for a trial in September. The judge set the trial for October. Not only that, but contrary to what a lot of Musk's fanboys believed about a prolonged procedure, the trial will only take 5 days.

 

Twitter-Musk trial on $44 billion deal set to begin in October after Musk loses effort to delay

Delaware Court of Chancery Chancellor Kathaleen McCormick ruled in favor of an expedited five-day trial, to take place in October, after a hearing conducted via teleconference.

https://www.cnbc.com/2022/07/19/twitter-wins-bid-for-expedited-trial-to-force-musk-to-close-deal.html

[Bluespunk]

How hard am I laughing?

 

Very. 
 

Twitter-Musk takeover dispute heading for October trial https://www.bbc.co.uk/news/world-us-canada-62058387

 

Pay up musk. 

Edited July 20, 2022 by Bluespunk

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Looks like Musk drew the short straw

Twitter, Elon Musk, and the 'pleasant, unassuming' Delaware judge who may force him to pay tens of billions of dollars

Kathaleen McCormick will be the judge in Twitter v Elon Musk lawsuit.
Columbia Law professor Eric Talley said her record of siding with sellers was bad news for Musk.
The Delaware Chancery Court's focus on optics was also bad news for the Tesla CEO, Talley said.

https://www.businessinsider.com/judge-in-twitter-elon-musk-trial-could-be-musk-nightmare-2022-7

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Elon Musk’s Proposed Solution to Twitter’s Bot Problem Is Not Exactly Intelligent

https://slate.com/technology/2022/07/elon-musk-twitter-artificial-intelligence-machine-learning.html

[stevenl]

On 7/12/2022 at 4:51 PM, SunnyinBangrak said:

Twitter will be forced to disclose all internal memos in court. This is an unprecedented disaster for Twitter. We will know all about their real thoughts on fake accounts/bots, and also their censoring conservatives, which didn't they previously deny under oath, yet Veritas did some stunning investigative journalism and found Twitter was being run for political influence (helping democrats) rather than being run for profit. Against their. fiduciary duty to shareholders. Ouch!

 

End of the day, Twitter is in deep, deep trouble. And it's all their own doing. So satisfying watching this clumsy propaganda outlet come a cropper. Mr Musk, bless you, this is one thrilling ride.

 

https://www.dailymail.co.uk/news/article-10823295/Twitter-does-not-believe-free-speech-Twitter-engineer-recorded-saying-censor-right.html

It's the other way round.

Musk has to prove that the number of bots is way higher than the earlier information. After that he has to explain why he bought it with the purpose of lowering the number of bots when he claimed from the beginning the number was way higher than stated.

 

And are you and others seriously believing anything musk says?