The bird company anticipated weeks ago that the celebrity CEO would try to weasel out of the deal, so they hired the top law firm in the deal litigation field several weeks ago to start working on a draft complaint against the celebrity CEO.

It will be ready in a couple days.

As I have been telling you, the bird company has the right to compel the celebrity CEO to close the deal, which they will.

He will end up owning the bird company, perhaps for a slight discount to the originally agreed upon price, sooner rather than later.

Twitter

Elon Musk

Twitter has vowed to sue Elon Musk. Here’s what could happen in court

Twitter says its $44 billion sale to Elon Musk is still on and it will go to court to make it happen, despite the mercurial billionaire’s declaration he is breaking it off.

“The Agreement is not terminated,” Twitter’s lawyers wrote in a letter to the Tesla and SpaceX CEO on Sunday disclosed in a filing on Monday. Musk “knowingly, intentionally, willfully, and materially breached” his agreement to buy the company, they alleged.

“Twitter reserves all contractual, legal, and other rights, including its right to specifically enforce the Musk Parties’ obligations under the Agreement,” they wrote.

Back in April, Musk launched a surprise bid to buy Twitter for $54.20 a share, which the social media company initially resisted before accepting.

Musk has accused Twitter of violating the sale agreement, which he argued gives him grounds to walk away without paying a $1 billion penalty. – Source

How Elon’s bizarre Twitter takeover saga could have just been a cover for him to sell $8.5 billion in Tesla stock

Elon Musk on Friday announced he was backing out of his $44 billion Twitter acquisition bid, blaming the social media platform’s alleged lack of transparency regarding bots on the site.

As both sides prepare for a lengthy court battle, some Twitter influencers are floating an alternate theory for the change of heart: The bots were never the problem, merely a vehicle through which to covertly sell Tesla options that were about to expire.

“Entire thing was a clever ruse to SELL + LIQUIDATE $8.5 BILLION of TESLA STOCK (w/plausible excuse for doing it),” Josh Wolfe, co-founder of Lux Capital, tweeted Friday after the announcement. The tweet included math that suggested Musk would walk away with more than $7 billion in liquidated stock—even after paying the $1 billion breakup fee.

“Honestly think he can ‘land rockets’ but can’t fix ‘bots’?” Wolfe asked rhetorically. – Source

Elon Musk posts ridiculous tweet about his calves amid Twitter court hearing

Tesla CEO Elon Musk may have lost his bid to delay the court hearings scheduled against him by Twitter on Tuesday morning. But you probably couldn’t tell that Musk was keeping tabs on the most significant tech drama of this year (so far) based on his tweets during the court hearing held in Delaware.

Among his strange tweets Tuesday were a commemorative tweet about Tesla’s Bay Area factory, stock market “greenwashing” and, perhaps, the weirdest of all: a tweet about the size of his calves.

It was in a response to a meme about him, in which a shirtless photo of Musk on vacation in Mykonos is put side-by-side with a dog standing on its hind legs.

“My calves are bigger tho,” Musk gamely responded to the meme’s poster, an hour into the hearing, which began at 11 a.m. ET. Adoring fans, seemingly hoping to catch their idol’s attention, defended Musk, saying he is “lookin good” and making “Elon Muskular” puns.

It’s unclear whether Musk was in attendance during the hearing, which was virtual because Chancellor Kathaleen St. Jude McCormick, the head judge of Delaware’s Court of Chancery, tested positive for COVID-19. But it’s strange to post on a social media platform — about your gams, no less — while you’re being sued by said platform. – Source

Twitter granted 5-day trial in October in case against Elon Musk

A Delaware Chancery Court judge on Tuesday granted Twitter (TWTR) a five-day trial slated for October in its case seeking to force Tesla (TSLA) CEO Elon Musk to buy the social media site for $44 billion after he tried to terminate the deal last month.

Twitter had sought to expedite the trial so the matter could be resolved before the deal’s Oct. 24, 2022 “drop dead” date — a deadline that, if reached before the transaction is finalized, allows either party to walk away. Twitter wanted to resolve the case in a four-day trial in September, while Musk wanted to push the case until February.

“The reality is that delay threatens irreparable harm to the seller, Twitter, for the reasons I described earlier: The longer the delay, the greater the risk. Given this reality I think a schedule closer to the norm is in order. For this reason, I think we should go to trial in October of this year,” Chancellor Kathaleen McCormick ruled on Tuesday.
‘A cloud of Musk-created doubt’

Musk contends he’s backing out of the deal because Twitter isn’t providing him with data regarding the number of fake accounts, known as bots, that operate on its platform — and in some cases, spread disinformation. Twitter says the bot issue is a pretext for backing out of the agreement, and that Musk has been deliberately trying to tank the deal with a series of disparaging tweets. The uncertainty surrounding the transaction, the company argues, is unfairly disrupting its stock and business operations.

“Millions of Twitter shares trade daily under a cloud of Musk-created doubt,” Twitter wrote in a court filing arguing for a September trial date. – Source

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