Elon Musk tried to pull the plug (Opens in a new tab) In his attempt to buy Twitter last week, Twitter threatened legal action to enforce transactions. Today, Twitter subsequently filed a proceeding accusing Musk of refusing to respect his commitment “because the contract he signed no longer serves his personal interests.”
Musk initially offered to buy Twitter for $ 43.4 billion (Opens in a new tab) In April, to realize “the possibility of becoming a platform for free speech all over the world.”He signed a final agreement (Opens in a new tab) I will buy it in about a week. But since then things have leveled off. In May, Musk arbitrarily declared a transaction pending while his team was investigating “spam / fake accounts” on Twitter. He later accused Twitter of leadership for not providing the information needed to accurately assess the situation.
In June, Twitter said, “Fire hose (Opens in a new tab)“Of all the tweets posted every day, Mask was obviously not interested, so I’m here.
“Mask, who implemented a public spectacle to take advantage of Twitter and proposed and signed a seller-friendly merger agreement, is free to change his mind, unlike all other parties subject to the Delaware Agreement Act. He seems to believe he can throw it in the trash. It confuses the company, destroys shareholder value, and leaves. ” Proceedings (Opens in a new tab) (via deadline (Opens in a new tab))situation. “This denial follows a long list of serious breach of contract by Twitter and Mask in its business. Twitter keeps Mask out of further breach, forces Mask to fulfill his legal obligations, and how many. The merger after satisfying the unresolved conditions. “
The proceedings accuse Musk of repeatedly changing and expanding his disclosure requirements. Twitter tried to catch up with it in order to avoid damaging its value or abandoning the transaction. For example, on June 29, Musk said he had “artificially capped the number of searches” that his team could perform on Twitter-provided fire hose data. In fact, his team had reached the default monthly query count of 100,000 queries, but Twitter increased it to 10 million. That’s “more than 100 times what most paid Twitter customers get.”
Despite these efforts, Musk stated that he “had little interest in understanding Twitter’s process for estimating spam accounts,” and in fact he provided a sampling process in May. I admitted that I hadn’t read the detailed summary of.
“From the beginning, the defendant’s request for information was designed to try to thwart the transaction. Mask’s increasingly eccentric request is not a true investigation of the Twitter process, but a record of Twitter’s non-cooperation. Reflecting the proceedings-led campaign to create. “The proceedings say.” Nevertheless, when Twitter turns backwards to deal with increasingly annoying demands, Mask isn’t. I appealed to the false claim that it was. “
As you might expect, there are many examples of Mask’s infamous tweeting habits.
The proceedings filed with the defendants, specifically Elon R. Musk, X Holdings I, Inc, and X Holdings II, Inc. I want to force the mask to pay.
Musk has not yet tweeted as a direct response to the proceedings, but shortly after the proceedings news broke, he shared this image of Malenia. (Opens in a new tab), Is widely considered to be one of the toughest bosses in Fromsoft’s history. Take it as you do.
