Elon Musk will face Twitter in a trial over the Tesla CEO’s terminated $44 billion takeover of the social media platform.
However, Twitter’s lawyers pushed for a sooner trial, with the Delaware Court of Chancery judge electing to begin proceedings in roughly three months’ time.
During this week’s hearing on the matter, lawyers for Twitter argued that Musk’s withdrawal from the deal was not due to alleged bot accounts but because of the Tesla CEO’s own personal wealth amid the recent stock market downturn: When Musk entered his bid for Twitter, he offered $54 per share; the stock dropped to as low as $32 before rebounding recently, with shares at $42 at press time Friday.
Twitter’s lawsuit stated, “But when the market declined, and the fixed-price deal became less attractive, Musk shifted his narrative, suddenly demanding ‘verification’ that spam was not a serious problem on Twitter’s platform and claiming a burning need to conduct ‘diligence’ he had expressly forsworn.”
While Twitter is taking Musk to court in order to enforce the acquisition and “compel consummation of the merger,” the reported $1 billion breakup fee Musk agreed to pay if he pulled out of the deal is also still at stake.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Twitter sets September shareholder vote on Elon Musk buyoutMusk, the world’s richest man, indicated earlier this month that he wants to back away from the deal, prompting Twitter to file a lawsuit to hold him to what it describes as a “seller-friendly” agreement.
Weiterlesen »
No One's More Disgusted By Alleged Elon Musk Affair Than Woman He Allegedly BangedI, too, would ensure anyone who alleged I had so much as kissed the Tesla CEO was prosecuted to the fullest extent of the law.
Weiterlesen »
Sergey Brin’s estranged wife, Nicole, calls Elon Musk affair an ‘outright lie’Nicole Shanahan blasted The Wall Street Journal’s report that she and the Tesla founder had an affair last December after meeting at Miami’s Art Basel.
Weiterlesen »
Elon Musk Lobs Casual Space Station Burn at MoscowSpaceX CEO Elon Musk is glad the Russians are leaving the International Space Station in a matter of years.'Bon voyage,' he tweeted.
Weiterlesen »
San Bernardino County moves forward with underground tunnel plan without Elon MuskWhen San Bernardino County officials wanted to have a third-party study the impacts of an underground tunnel linking Ontario Airport and the Rancho Cucamonga Metrolink station, Elon Musk's Boring Co. was not as interested in pursuing the idea.
Weiterlesen »
Elon Musk blasts Wikipedia after it suspends edits of ‘recession’ pageMusk, the Tesla CEO and the world’s richest person with a net worth of $263 billion, tagged Wikipedia founder Jimmy Wales in a tweet on Friday.
Weiterlesen »