Elon Musk continues to amaze and amaze the world by wasting his time on Twitter crossings. After trying to buy the company for $ 43 billion in April, the deal has not yet been closed. Mainly because Elon continues to act like a donkey. He behaved as much as Twitter finally said, “Buy it now, bitch!” and has slapped the billionaire with a lawsuit, alleging that he has been trying to bring down the share price. Instead of isolating himself on an island and doing nothing forever like what the rest of us would do if we had billions of dollars, Elon continues to do stupid shit for lulz!
Twitter users have been monitoring the situation to see if the social media platform will stay the same (read: moderate levels of harassment) or become the home of “free speech” (read: MUCH more harassment) , but the U.S. third-tier Iron Man continues to drag the deal. According to the rough story, Elon bought enough shares to become Twitter’s majority shareholder; entertained and then refused to become a member of the board; announced that it would buy the platform directly for $ 43 billion; fought harder with Twitter shareholders until everyone finally settled for the purchase; he stated that he was putting everything on hold until Twitter could prove that the site was not full of bots, and then he stated that he was becoming a Republican because he was accused of being a sex plague! The last part is not part of the Twitter shopping saga, but I think it’s important to remember that dealing with Elon isn’t fun for anyone. Now Twitter is bringing out the lawyers. via Yahoo! Finances:
Twitter shareholders have filed a lawsuit accusing Elon Musk of engaging in “illegal conduct” in a bid to cast doubt on his bid to buy the social media company.
The lawsuit filed Wednesday afternoon in the U.S. District Court for the Northern District of California states that the billionaire CEO of Tesla has tried to reduce the price of Twitter shares because he wants to move away from the deal or negotiate a substantially lower purchase price.
In Elon’s rush to buy his favorite platform for Obi-Wan dams and nuanced discussions about racism, he relinquished his right to due diligence. It’s basically a “grab or drop” offer. Tesla shares, meanwhile, have fallen in value by almost a third since April. Elon planned to use it to finance the purchase.
In response to the fall in the value of Tesla shares, Twitter shareholder lawsuits allege that Musk has been denigrating Twitter, violating both the non-contempt and non-disclosure clauses of his contract with the company.
“In doing so, Musk hoped to lower the price of Twitter shares and then use it as a pretext to try to renegotiate the purchase,” according to the lawsuit.
The lawsuit also refers to Elon’s initial purchase of Twitter shares in early April, which made it the majority shareholder. It was gloomy to say the least.
Before announcing his offer to buy Twitter, Musk revealed in early April that he had bought a 9% stake in the company. But the lawsuit says Musk did not disclose participation within the time limit required by the Stock and Securities Commission.
“By delaying the disclosure of his stake in Twitter, Musk engaged in market manipulation and bought shares of Twitter at an artificially low price,” the lawsuit says.
So we still don’t know who owns Twitter after about a month of SEC-related dramas. What we do know is that Elon is losing his status as a golden boy. I’m seeing fewer Elon quotes on Rise & Grind’s Instagram accounts or on LinkedIn influencer pages. You know you’re fucking when LinkedIn is around you! They will gas any ghoul who says working at a desk from 5am to 3am is the only real route to happiness.
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