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Twitter shareholders approved Musk’s $44 billion takeover.

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It’s a big move in reaction to Tesla’s CEO attempting to back out of an agreement due of spam and fake accounts.

Twitter shareholders gave Elon Musk the go light on September 13 to acquire the social media network and turn it into a private company.

Musk is the CEO of Tesla. Nevertheless, a legal dispute might still prevent the sale from going through later this fall.

Following the approval of Musk’s $44 billion plan by the company’s shareholders, he is now attempting to withdraw from the deal.

Musk is being sued by Twitter for violating the terms of service, and if a settlement cannot be reached between the parties by October 17,

The trial will begin in Delaware Chancery Court on that day and continue for a total of five days unless the parties can reach an agreement to settle the matter amicably.

Musk is skeptical of the amount of fake accounts that Twitter claims to have, and he has hinted that the company is not being totally truthful about the issue.

According to Twitter, less than 5% of their daily monetizable active users were spam or bots. Bots and spam accounts together made up that 5%.

Based to the company, it provided Elon Musk with all of the information that was essential for the transaction.

According to the allegations, Musk made an attempt to support his contentious acquisition of the social media company by using statements made by a whistleblower.

His request to withdraw his guilty plea was granted on September 6 by Chancellor Kathaleen McCormick of the Delaware Chancery.


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