In the letter from Elon Musk’s lawyers to Twitter terminating the purchase deal they claimed that Twitter is in breach of the agreement for, among other things, withholding and misrepresenting their data about how much of the Twitter userbase doesn’t actually exist but is really just bots and spam, etc.
Twitter today hired a legal team to sue Musk and force him to buy the company. We’re SUUURE that’s not because they have to keep him silent so the data he has doesn’t tank their stock even more. Or worse, to keep them out of JAIL, which Charles Gasparino says is a real possibility. Actual jail time.
ON THE OTHER HAND, if Twitter is right about their numbers…
“Here’s what I will say, Howie. That this is a huge, huge story because if Elon Musk is right, if Twitter since its IPO in 2013 has been lying about its bots, you know, those fake accounts, that it’s not 5% or less. If they’ve been putting out public statements of that nature that are lies … man, that’s called securities fraud,” said Gasparino. “That means jack Dorsey and all the other guys that are running, have run Twitter can go to jail.”
“IF that can be proven,” Howard Kurtz emphasized.
“If that can be proven. If it’s wrong, right, if Elon is wrong, a federal judge — if he’s just making this up, and, you know, remember, he waived due diligence, he said last and final offer, he didn’t do anything pre-bidding to basically back up his claim — If he is wrong and if they’re right about the bots being 5%, a federal judge could make him buy this deal at the agreed-upon, at the price he put up, $54.20 which was $44 billion,” Gasparino continued. “And if he says no to that, if he defies the court order, which he has done in the past, he’s defied stuff, then he goes to jail.”
This is honestly fascinating to me but you gotta think that, as Gasparino notes is a third possibility, the two parties will negotiate some kind of agreement that leaves neither side happy but also neither side incarcerated.
For sure Twitter is never going to be the same. Their implacable and inscrutable wall of silence is broken, and the evil lawyer who was calling the shots and using it as her own massive censorship regime has been exposed.
Trump said last night that Elon Musk is another bullsh** artist. But that really doesn’t matter to what has been accomplished already just by him entering into this purchase. And for that I thank him.
And once the deal is done, one way or the other, I’ll thank him to shut about politics from now on, too.