Twitter pretty much telegraphed this the other day. And now it’s on. Twitter is suing Elon Musk over the absolute mess that he made when he tried to take over Twitter:
“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-2-walk away,” the lawsuit said.
“Twitter brings this action to enjoin Musk from further breaches, to compel Musk to fulfill his legal obligations, and to compel consummation of the merger upon satisfaction of the few outstanding conditions,” the filing continues.
Musk I think may be in trouble. He was hoping to walk away from this without paying a dime. But if Twitter wins, he’ll have to buy the company. And his past history of not really thinking through what he says on Twitter and in public is likely going to play a factor here. Now Twitter isn’t risk free here as they likely will have to expose a lot about the company that will hurt. But I would rather be Twitter than Musk as I’m thinking that it is likely that he’s going to get a smack down. But I am a computer nerd, not a lawyer. I’ll let the lawyers argue this one.
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This entry was posted on July 12, 2022 at 5:35 pm and is filed under Commentary with tags Twitter. You can follow any responses to this entry through the RSS 2.0 feed.
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It’s Official: Twitter Sues Elon Musk Over Twitter Takeover Fiasco
Twitter pretty much telegraphed this the other day. And now it’s on. Twitter is suing Elon Musk over the absolute mess that he made when he tried to take over Twitter:
“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-2-walk away,” the lawsuit said.
“Twitter brings this action to enjoin Musk from further breaches, to compel Musk to fulfill his legal obligations, and to compel consummation of the merger upon satisfaction of the few outstanding conditions,” the filing continues.
Musk I think may be in trouble. He was hoping to walk away from this without paying a dime. But if Twitter wins, he’ll have to buy the company. And his past history of not really thinking through what he says on Twitter and in public is likely going to play a factor here. Now Twitter isn’t risk free here as they likely will have to expose a lot about the company that will hurt. But I would rather be Twitter than Musk as I’m thinking that it is likely that he’s going to get a smack down. But I am a computer nerd, not a lawyer. I’ll let the lawyers argue this one.
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This entry was posted on July 12, 2022 at 5:35 pm and is filed under Commentary with tags Twitter. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.