It is not entirely clear whether Twitter\u0027s board will accept the $1 billion breakup fee or if there will be a court battle over the deal
In a letter to Twitter’s board, Musk lawyer Mike Ringler complained that his client had for nearly two months sought data to judge the prevalence of “fake or spam” accounts on the social media platform.Article content
The trial court in Delaware frequently handles business disputes among the many corporations, including Twitter, that are incorporated there. “From the beginning, this was always a head scratcher to go after Twitter at a $44 billion price tag for Musk and never made much sense to the Street, now it ends in a Twilight Zone ending with Twitter’s Board back against the wall and many on the Street scratching their head around what is next.”Article content
One of the chief reasons Musk gave for his interest in taking Twitter private was his belief he could add value to the business by getting rid of its spam bots — the same problem that he’s now citing as a reason to end the deal. Musk’s lawyer also alleged that Twitter broke the agreement when it fired its revenue product leader and general manager of consumers and laid off a third of its talent-acquisition team.
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