The Twitter takeover by Elon Musk is a train wreck next to a dumpster fire. The latest twist in this saga is that shareholders of Twitter have approved the takeover:
Twitter Inc. TWTR, 2.19% shareholders voted Tuesday to approve Tesla Inc. TSLA, -3.07% Chief Executive Elon Musk’s $44 billion bid to acquire the embattled company and take it private, pushing Twitter shares up nearly 2%.
But, Musk is trying to weasel his way out of the deal:
Musk, however, is attempting to back out of the deal with claims that Twitter underreported fake accounts, prompting Twitter to sue the billionaire for breach of contract. The case is scheduled to go before the Delaware Court of Chancery in October.
And to add to the fun is this:
The former security chief at Twitter told Congress that the social media platform is plagued by weak cyber defenses that make it vulnerable to exploitation by “teenagers, thieves and spies” and put the privacy of its users at risk. Peiter “Mudge” Zatko, a respected cybersecurity expert, appeared before the Senate Judiciary Committee to lay out his allegations Tuesday.
That might actually help Musk weasel his way out of the deal if Twitter doesn’t have a coherent response to these allegations. I guess we’ll find out in October when this goes to trial. Assuming that there are no other plot twists before then.
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This entry was posted on September 13, 2022 at 2:00 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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Twitter Shareholders Vote To Approve Musk Takeover Even As Musk Tries To Weasel His Way Out Of It
The Twitter takeover by Elon Musk is a train wreck next to a dumpster fire. The latest twist in this saga is that shareholders of Twitter have approved the takeover:
Twitter Inc. TWTR, 2.19% shareholders voted Tuesday to approve Tesla Inc. TSLA, -3.07% Chief Executive Elon Musk’s $44 billion bid to acquire the embattled company and take it private, pushing Twitter shares up nearly 2%.
But, Musk is trying to weasel his way out of the deal:
Musk, however, is attempting to back out of the deal with claims that Twitter underreported fake accounts, prompting Twitter to sue the billionaire for breach of contract. The case is scheduled to go before the Delaware Court of Chancery in October.
And to add to the fun is this:
The former security chief at Twitter told Congress that the social media platform is plagued by weak cyber defenses that make it vulnerable to exploitation by “teenagers, thieves and spies” and put the privacy of its users at risk. Peiter “Mudge” Zatko, a respected cybersecurity expert, appeared before the Senate Judiciary Committee to lay out his allegations Tuesday.
That might actually help Musk weasel his way out of the deal if Twitter doesn’t have a coherent response to these allegations. I guess we’ll find out in October when this goes to trial. Assuming that there are no other plot twists before then.
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This entry was posted on September 13, 2022 at 2:00 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.