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Twitter sues to force Elon Musk to complete his $44B acquisition

Twitter sues to force Elon Musk to complete his $44B acquisition
it's looking more and more like Elon musk is trying to get out of buying twitter recently, he announced his intention to buy the company coming up with some $44 billion to do so. Now, Business Insider reports, he's saying that transaction cannot go through. That is until the company can provide proof that less than 5% of all of its users are fake musk. Recently tweeted quote, my offer was based on twitter's sec filings being accurate. That sec filing indicated the sub 5% fake user base must added 20% fake slash spam accounts while four times what twitter claims could be much higher. It's unclear where he came up with *** 20% figure. But Reuters reports in *** study from 2017, an online monitoring firm estimated that number could be between nine and 15% must ask the company to provide *** random sample of 100 accounts to see whether the 5% number held up. Twitter responded by explaining why that wouldn't work and that their internal findings, including multiple human reviews in replica of thousands of accounts provides *** more accurate number than 100 random users, super genius musk responded with *** *** emoji. It's worth noting since Elon musk announced his twitter takeover, the social media company has seen its stock prices plummet around 20%
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Twitter sues to force Elon Musk to complete his $44B acquisition
Twitter said Tuesday it has sued Elon Musk to force him to complete the $44 billion acquisition of the social media company.Musk and Twitter have been bracing for a legal fight since the billionaire said Friday he was backing off of his April agreement to buy the company. Twitter맥스카지노s lawsuit opens with a sharply-worded accusation that 맥스카지노Musk refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests.맥스카지노맥스카지노Having 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 맥스카지노 unlike every other party subject to Delaware contract law 맥스카지노 is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away,맥스카지노 the suit says.Twitter filed its lawsuit in the Delaware Court of Chancery, which frequently handles business disputes among the many corporations, including Twitter, that are incorporated there.Musk alleged Friday that Twitter has failed to provide enough information about the number of fake accounts on its service. Twitter said last month that it was making available to Musk a 맥스카지노fire hose맥스카지노 of raw data on hundreds of millions of daily tweets.The company has said for years in regulatory filings that it believes about 5% of the accounts on the platform are fake. Musk is also alleging that Twitter broke the acquisition agreement when it fired two top managers and laid off a third of its talent-acquisition team.When Musk offered to buy the company and take it private in mid-April, the board initially tried to block him by deploying a financial maneuver that would have made the acquisition prohibitively expensive.By April 25, though, Twitter had reconsidered the offer, concluding that selling the company to Musk for $54.20 a share was in the best interest of shareholders. In a joint press release, Musk pledged to 맥스카지노unlock맥스카지노 the social media company맥스카지노s potential by loosening restrictions on speech and rooting out fake accounts.But his confidence didn맥스카지노t last long. Tesla맥스카지노s stock 맥스카지노 Musk맥스카지노s primary source of wealth 맥스카지노 plummeted amid a broader stock market selloff in May, and Musk soon seemed less enthusiastic about owning Twitter.

Twitter said Tuesday it has sued Elon Musk to force him to complete the $44 billion acquisition of the social media company.

Musk and Twitter have been bracing for a legal fight since the billionaire said Friday he was backing off of his April agreement to buy the company.

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Twitter맥스카지노s lawsuit opens with a sharply-worded accusation that 맥스카지노Musk refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests.맥스카지노

맥스카지노Having 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 맥스카지노 unlike every other party subject to Delaware contract law 맥스카지노 is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away,맥스카지노 the suit says.

Twitter filed its lawsuit in the Delaware Court of Chancery, which frequently handles business disputes among the many corporations, including Twitter, that are incorporated there.

Musk alleged Friday that Twitter has failed to provide enough information about the number of fake accounts on its service. Twitter said last month that it was making available to Musk a 맥스카지노fire hose맥스카지노 of raw data on hundreds of millions of daily tweets.

The company has said for years in regulatory filings that it believes about 5% of the accounts on the platform are fake. Musk is also alleging that Twitter broke the acquisition agreement when it fired two top managers and laid off a third of its talent-acquisition team.

When Musk offered to buy the company and take it private in mid-April, the board initially tried to block him by deploying a financial maneuver that would have made the acquisition prohibitively expensive.

By April 25, though, Twitter had reconsidered the offer, concluding that selling the company to Musk for $54.20 a share was in the best interest of shareholders. In a joint press release, Musk pledged to 맥스카지노unlock맥스카지노 the social media company맥스카지노s potential by loosening restrictions on speech and rooting out fake accounts.

But his confidence didn맥스카지노t last long. Tesla맥스카지노s stock 맥스카지노 Musk맥스카지노s primary source of wealth 맥스카지노 plummeted amid a broader stock market selloff in May, and Musk soon seemed less enthusiastic about owning Twitter.