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Started By
Message
re: Twitter board unanimously recommends Musk's takeover bid...Has Elon Bit off too much?
Posted on 6/22/22 at 5:50 am to cwill
Posted on 6/22/22 at 5:50 am to cwill
quote:Yikes!
You didn’t know what the contract provided so you just pivoted to “fraud” with no basis.
My comments were/are made based upon Musk's (aka Musk and a team of high-end lawyers') matter-of-fact insistence that the bot issue must be resolved prior to closure.
His bot assertion is backed by fraud provisions in the law, and as delineated in the contract Decatur linked. Those are the provisions we are discussing.
Assuming TWTR defrauded the public, its advertisers, and its buyer(s), and that such fraud is identified, your impression the buyer has no preclosure remedy other than the out-clause penalty is bizarre.
quote:Negative.
You’re trying to argue that substantively there is fraud
You've either not read my posts, or don't understand what you've read.
Nowhere am I arguing substantively, or otherwise, that there is fraud. However, it appears to be a probability. In the instance of a publicly held company, material fraud constitutes criminal conduct. If that is shown to be the case (as current Twitter traffic seems to indicate), the deal as it stands should be a nogo.
quote:Odd premise.
For you this is political
The political side of me hopes the deal closes. The political side of me hopes the dishonest marxist bitches behind the scenes are shown the door, and free speech returns to the platform. So I actually hope TWTR was not fraudulently misrepresenting its traffic/user/account numbers to advertisers, the public and Musk.
This post was edited on 6/22/22 at 6:29 am
Posted on 6/22/22 at 1:33 pm to NC_Tigah
quote:
My comments were/are made based upon Musk's (aka Musk and a team of high-end lawyers') matter-of-fact insistence that the bot issue must be resolved prior to closure.
You don’t seem to understand he’s not permitted by the contract to request and due diligence the bot issue. He can either close or walk and pay the break up fee. That’s what happens when you don’t do any pre sign diligence and then waive post signing pre close diligence. That’s the contract - it heavily favors the seller. frick.
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