Musks' disastrous takeover of Twitter?
Musks' disastrous takeover of Twitter
“Following the tech mogul's disastrous takeover of Twitter is a trail of litigation.”
Musk wouldn't have gone through with the deal if the SEC hadn't have gone after him for withdrawing the offer. Enumerate what's different about the current Xitter and the Twitter before Musk bought it. One such difference I assume is that Musk doesn't have weekly sit-downs with the FBI, DHS, ODNI, and CDC to decide who to ban and giving them access to people private direct messages. It's precisely because the spooks have lost access to Xitters inner workings that is the source of the trail of litigation.
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Sept 2018: The SEC files a lawsuit against Elon Musk, accusing him of securities fraud violations and requests judge to prohibit Musk from being an officer or director of a public company.
March 2019: The SEC asks a federal judge to hold Musk in contempt for tweeting without pre-approval.
April 4, 2022: Elon Musk discloses a 9.2% stake in Twitter, making him the largest shareholder.
April 5, 2022: Twitter announces that Musk will join its board of directors.
April 9, 2022: Musk declines the offer to join Twitter's board.
April 14, 2022: Musk offers to buy Twitter for $44 billion, or $54.20 per share.
April 25, 2022: Twitter's board accepts Musk's buyout offer.
April 2022: The SEC investigates Musk's 9.2% stake in Twitter.
May 13, 2022: Musk puts the deal on hold, citing concerns over the number of spam accounts on the platform.
May 2020: The SEC looks into Musk’s tweets to determine if these statements complied with securities laws.
June 6, 2022: Musk threatens to terminate the deal over Twitter's refusal to provide data on spam accounts.
July 8, 2022: Musk formally attempts to terminate the deal, claiming that Twitter breached their agreement by failing to disclose accurate information about spam accounts.
July 12, 2022: Twitter files a lawsuit against Musk to enforce the buyout agreement.
Oct 4, 2022: Musk proposes to go ahead with the original deal at $54.20 per share, reversing his attempt to terminate the acquisition.
Oct 27, 2022: Elon Musk completes the acquisition of Twitter for $44 billion and takes the company private.
Oct 2023: The SEC subpoenas Musk to appear before an “investigation” regarding Musks' purchase of Twitter.