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The feud between Elon Musk and Twitter on the acquisition of the social network. Pending the trial that will begin on October 17 in the state of Delaware and which – Twitter hopes – will force the entrepreneur to conclude the platform acquisition transactionthe back and forth between the parties shows no sign of diminishing.
The previous chapters
In mid-April Musk had presented a $ 44 billion offer for the purchase of the company, which Twitter had accepted. The deal was then temporarily suspended in May following a request to verify the number of fake accounts operating on the platform by Musk, according to which the bots present on the app would be many more than the 5 percent reported by Twitter. Following a continuous back and forth between the two parties – in the context of a heated debate on the implications in terms of privacy, freedom of expression and the future of society of the agreement – Musk accused Twitter of not wanting to give him the necessary information to carry out these verifications, and therefore decided to terminate the agreement through a letter sent to the SEC, the authority that controls the stock exchange in the United States.
Twitter reacted by filing one complaint in a Delaware court in which he argues that Musk’s accusations are unfounded and demands that the businessman abide by the commitments made. Tesla’s boss had asked for the trial to be held in February, but Kathaleen Chancellery Chief Judge Jude McCormick accepted Twitter’s request to expedite the lawsuit, despite Musk’s objections. The start of the trial was therefore set at October 17.
The latest developments
On July 29, Reuters he reported that Musk counterattacked by formally denouncing Twitter. In a document of more than 150 pages, the entrepreneur explains the reasons for his reverse – referring again to the lack of transparency of the platform on the number of bots, spam and fake accounts – and, according to what was reported by Handleeven goes so far as to insert a famous quote from the US tycoon Warren Buffet: “Only when the current recedes, does it reveal who has bathed naked“. Musk also has has sued two of the largest and most important investment banks in the world, Goldman Sachs and JPMorgan Chase, to understand the level of involvement of the two Wall Street giants in the agreement and to make public the analyzes of the two banks on the financial results of Twitter. All while continuing with the provocations on his Twitter account.
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