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Elon Musk terminates deal to buy Twitter

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Posted By: Dreadnought, 7/8/2022 5:50:32 PM

Billionaire Elon Musk called off his deal to buy social media company Twitter, according to a filing on Friday with the Securities and Exchange Commission. Skadden Arps attorney Mike Ringler said in a letter to Twitter's chief legal officer that “Twitter has not complied with its contractual obligations." For nearly two months, the company has failed to provide Musk with information about fake or spam accounts, the letter said.

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Reply 1 - Posted by: DVC 7/8/2022 5:56:34 PM (No. 1210344)
Probably because 1/3rd of all Twit accounts are fake, used for political purposes.
41 people like this.

Reply 2 - Posted by: NancyD 7/8/2022 6:01:36 PM (No. 1210351)
Awesome! Expose and destroy. They are fake, their "power" is fake, supposed followers "fake. Serves them right.
39 people like this.

Reply 3 - Posted by: Lazyman 7/8/2022 6:02:53 PM (No. 1210354)
The High School click is back.
12 people like this.

Reply 4 - Posted by: GoodDeal 7/8/2022 6:11:19 PM (No. 1210361)
It’s really a government run psyop propaganda organization ghost managed by the CIA and promotes big pharma, the DNC, left wing anti American policies and BLM among other progressive organizations.
31 people like this.

Reply 5 - Posted by: MissNan 7/8/2022 6:21:36 PM (No. 1210364)
Ya snooze ya lose.
9 people like this.

Reply 6 - Posted by: Omen55 7/8/2022 6:35:37 PM (No. 1210374)
So Twitter understands that the Discovery means they will have to give Musk all the info. Right?
29 people like this.

Reply 7 - Posted by: rocket-j-squirrel 7/8/2022 6:38:44 PM (No. 1210375)
Now that, my friends, is how to troll. Dangling billions of dollars in the cesspool of bottom dwelling sycophants. They will eventually slither and slide to rise above their counterparts only to find the D-trap above the leeçh field that flushes them back to their miserable existence. (Not there's anything wrong with that).
24 people like this.

Reply 8 - Posted by: Nashman 7/8/2022 6:39:37 PM (No. 1210376)
And now the massive stockholder lawsuits begin against the board taking the whole company down. It will be a glorious thing to watch. Pass the popcorn.
33 people like this.

Reply 9 - Posted by: Rich323 7/8/2022 6:40:52 PM (No. 1210377)
Dr. Shiva in Massachusetts won a major lawsuit on election fraud and discovered that Twitter had to a direct line to government officials. The government was influencing his election! I’m guessing the Twitter servers could possibly be managed by the hmmm…CIA. TBD. Maybe that’s why Twitter has drug their feet on this sale!
19 people like this.

Reply 10 - Posted by: formerNYer 7/8/2022 6:47:23 PM (No. 1210379)
Musk should sue them. He already made their stock go in the toilet, might as well ruin them so more.
18 people like this.

Reply 11 - Posted by: Moritz55 7/8/2022 6:55:13 PM (No. 1210381)
As usual, Babylon Bee had an interesting take on this: https://babylonbee.com/news/elon-musk-backs-out-of-twitter-deal-after-realizing-he-can-read-the-babylon-bee-by-going-directly-to-their-website
11 people like this.

Reply 12 - Posted by: stablemoney 7/8/2022 7:00:46 PM (No. 1210387)
I believe Twitter will take the $1 Billion breakup fee and go away. I read some speculation about them suing to conclude the deal, but I don't think they can stand up to interrogatories, discovery, cross examination, and swearing to tell the truth, and nothing but the truth.
7 people like this.

Reply 13 - Posted by: curious1 7/8/2022 7:10:18 PM (No. 1210389)
And when does the SEC come down on the exec's for their falsifying of reports? If they can't prove how many real accounts they have, advertisers have been over-paying for ads.
12 people like this.

Reply 14 - Posted by: DVC 7/8/2022 7:24:08 PM (No. 1210396)
The Twits have taken a couple of torpedoes in the engine room, and are listing badly. And it appears that the damage control teams are incompetent. Grin.
8 people like this.

Reply 15 - Posted by: marlon 7/8/2022 7:27:01 PM (No. 1210399)
I don't believe he ever really planned on buying them. He's smarter than that. They will never see a profit and eventually all the little Twitter twits will find a new toy and move on.
6 people like this.

Reply 16 - Posted by: LC Chihuahua 7/8/2022 7:35:52 PM (No. 1210406)
Take away the political funding, and Twitter is a money loser, but the left does not care when they lose money as long as it's for 'the cause'.
3 people like this.

Reply 17 - Posted by: LadyVet 7/8/2022 7:42:00 PM (No. 1210410)
I think the $1 bil cold feet fee is IF Twitter acted in good faith. They did not. I doubt the SEC will go after them until Trump is back in the White House.
6 people like this.

Reply 18 - Posted by: Urgent Fury 7/8/2022 8:09:22 PM (No. 1210420)
This reminds me of how so many people were going to save the 2020 election.
1 person likes this.

Reply 19 - Posted by: ROLFNader 7/8/2022 8:14:20 PM (No. 1210423)
Hoook airs?
0 people like this.

Reply 20 - Posted by: nwcudagal 7/8/2022 8:41:31 PM (No. 1210426)
So Twitter is a twit.
1 person likes this.

Reply 21 - Posted by: doctorfixit 7/8/2022 8:42:23 PM (No. 1210428)
Too much fraud on Twizzler.
2 people like this.

Reply 22 - Posted by: thefield 7/8/2022 9:00:27 PM (No. 1210441)
Small difference 44 billion and 28 billion.
2 people like this.

Reply 23 - Posted by: Log Cabin Preacher 7/8/2022 9:33:49 PM (No. 1210457)
I hope this opens the door for lawsuits. Shareholders who lost a lot of money on the shares buyout. Overcharged advertisers. Musk himself. That's just off the top of my head.
5 people like this.

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