US Politics | Did Elon Musk terminate his Twitter deal?
ELON Musk made headlines because of his audacious attempt to buy Twitter. The billionaire was seeking to add Twitter to his other companies, which include Tesla, SpaceX, and Neuralink. 
Getty ImagesElon Musk plans to combat trolls if he buys Twitter '/ ' On April 25, 2022, news broke that Elon Musk was working to finalize a deal to buy Twitter for $46.5billion. Months later, on July 8, 2022, Musk officially terminated his Twitter deal, Reuters reported. According to the outlet, Musk cited a ...material breach of multiple provisions of the agreement.... Since the news, Twitter fell six percent in extended trading and is now suing Musk to hold him to the $44billion deal. Read More on The US Sun 
COLD TWEET Musk Twitter deal on brink of collapse as he warns deal 'cannot move forward' 
YOU MUSK CONTINUE Twitter 'will ENFORCE Elon Musk buyout' despite threat to back out Twitter filed a lawsuit against Musk on July 12 for violating the buyout deal. The lawsuit says: ...Having mounted a public spectacle to put Twitter in play, and having proposed and then signed a seller-friendly merger agreement, Musk apparently believes that he \- unlike every other party subject to Delaware contract law \- is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away.... Twitter's chairman, Bret Taylor had warned that the company would pursue legal action prior to filing the lawsuit in a tweet on July 8. He wrote: ...The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement. more from Elon musk TWEETING CASH Everything to know about Elon Musk's Twitter deal revealed THINKING SPACE Elon Musk reveals hidden meaning behind the SpaceX logo SELF-DRIVEN Tesla's new $15k 'Full Self Driving' Beta is days away from wide release FREE OF CHARGE Student tracking Elon Musk's jet reveals price to take down Twitter account MUSK HAVE MORE Elon Musk & exec 'conceived via IVF' as CEO argues world needs MORE kids INSTANT UPGRADE Musk's Starlink to 'eliminate dead zones worldwide' for cell customers ...We are confident we will prevail in the Delaware Court of Chancery.... According to ZDNet, Musk previously stated that one of his motivations for buying Twitter was to combat trolls on the social media platform when he said: ...A top priority I would have is eliminating the spam and spam bots and bot armies that are on Twitter.... He also stated that he wanted to make changes to the Twitter Blue premium subscription service by reducing prices and possibly banning advertising. Part of his offer letter to purchase Twitter also stated: ...The company will neither thrive nor serve this societal imperative in its current form.... As a result, he was seeking to make some changes to Twitter. On June 21, 2022, it was announced that Twitter's board recommended unanimously that shareholders approved the proposed $44billion sale. 
Elon Musk is the second-largest shareholder in TwitterReuters Why is Elon Musk going to trial against Twitter? Musk announced he was pulling out of his agreement to purchase Twitter for $44billion in April 2022, but only weeks later, he tried to pull out of the agreement. He claimed Twitter had misled him when they told him how many bots were on the app. At the time, Musk tweeted: ...Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users.... Twitter denied the claims and sued Musk on July 12, accusing him of violating the agreement to buy the company. A trial was set for October 17 and was expected to last five days, during which time Twitter would present subpoenas to Musk's banks and associates in an attempt to uncover any information relating to the deal. Musk countersued Twitter, citing misleading information about the number of alleged spam accounts. In a new effort to win the lawsuit, Musk has requested the court push back the trial to November as new information emerges from a whistleblower's account. The whistleblower, Peiter ...Mudge... Zatko, accused Twitter of "extreme, egregious deficiencies,... claiming the company underreported the number of spam bots and how it handles user information. "Twitter is grossly negligent in several areas of information security," Zatko wrote in a February analysis that was included in his complaint to the Securities and Exchange Commission (SEC) and the Department of Justice, and the Federal Trade Commission (FTC). "If these problems are not corrected, regulators, media, and users of the platform will be shocked when they inevitably learn about Twitter's severe lack of security basics." In light of Zatko's claims, Musk is requesting a delay on the court date, and his legal team claims if the allegations are true, will represent a breach on Twitter's side of the agreement. Musk's attorneys are pushing Twitter to release the unredacted documents Zatko sent the board in February 2022 which outlined his concerns, but Twitter has so far refused. "The document does not contain any references to 'spam,' and it is not otherwise responsive to defendants' document requests," Twitter's lawyers told the New York Post. "As such, we do not believe defendants have any basis to demand its production." A Twitter spokesperson told the outlet: "We remain committed to closing the transaction on the price and terms agreed upon with Mr. Musk. They continued: "We have not breached any of our representations or obligations under the Agreement, and have not suffered and are not likely to suffer a Company Material Adverse Effect." Who owns Twitter? Twitter is not owned by a single person, but by shareholders. According to Investopedia, there are five top shareholders in addition to the numerous shareholders around the world. The Vanguard Group, Inc holds the largest stake, owning about 82.4million Twitter shares, which represents 10.3 percent of shares outstanding as of March 31, 2022. Elon Musk had the second-largest stake, owning 73.5million Twitter shares, representing a 9.2 percent stake in the company as of year-end 2021. Morgan Stanley holds the third-largest stake in Twitter with about 67million shares, which represents 8.4 percent of the total outstanding as of year-end 2021. Read More on The US Sun 
SINGLE LADY Sister Wives' Christine seen with pregnant daughter Mykelti after blasting Kody 
TAKE NOTE I'm a lawyer - you may be owed a refund worth $1,000s without knowing BlackRock Inc. owns about 52.1million shares of Twitter, representing a 6.5 percent stake as of year-end 2021. The fifth-largest shareholder is State Street Corp., which held 36.4 million Twitter shares, representing a 4.5 percent stake in the company as of the end of 2021.
Getty ImagesElon Musk plans to combat trolls if he buys Twitter '/ ' On April 25, 2022, news broke that Elon Musk was working to finalize a deal to buy Twitter for $46.5billion. Months later, on July 8, 2022, Musk officially terminated his Twitter deal, Reuters reported. According to the outlet, Musk cited a ...material breach of multiple provisions of the agreement.... Since the news, Twitter fell six percent in extended trading and is now suing Musk to hold him to the $44billion deal. Read More on The US Sun COLD TWEET Musk Twitter deal on brink of collapse as he warns deal 'cannot move forward' YOU MUSK CONTINUE Twitter 'will ENFORCE Elon Musk buyout' despite threat to back out Twitter filed a lawsuit against Musk on July 12 for violating the buyout deal. The lawsuit says: ...Having mounted a public spectacle to put Twitter in play, and having proposed and then signed a seller-friendly merger agreement, Musk apparently believes that he \- unlike every other party subject to Delaware contract law \- is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away.... Twitter's chairman, Bret Taylor had warned that the company would pursue legal action prior to filing the lawsuit in a tweet on July 8. He wrote: ...The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement. more from Elon musk TWEETING CASH Everything to know about Elon Musk's Twitter deal revealed THINKING SPACE Elon Musk reveals hidden meaning behind the SpaceX logo SELF-DRIVEN Tesla's new $15k 'Full Self Driving' Beta is days away from wide release FREE OF CHARGE Student tracking Elon Musk's jet reveals price to take down Twitter account MUSK HAVE MORE Elon Musk & exec 'conceived via IVF' as CEO argues world needs MORE kids INSTANT UPGRADE Musk's Starlink to 'eliminate dead zones worldwide' for cell customers ...We are confident we will prevail in the Delaware Court of Chancery.... According to ZDNet, Musk previously stated that one of his motivations for buying Twitter was to combat trolls on the social media platform when he said: ...A top priority I would have is eliminating the spam and spam bots and bot armies that are on Twitter.... He also stated that he wanted to make changes to the Twitter Blue premium subscription service by reducing prices and possibly banning advertising. Part of his offer letter to purchase Twitter also stated: ...The company will neither thrive nor serve this societal imperative in its current form.... As a result, he was seeking to make some changes to Twitter. On June 21, 2022, it was announced that Twitter's board recommended unanimously that shareholders approved the proposed $44billion sale. Elon Musk is the second-largest shareholder in TwitterReuters Why is Elon Musk going to trial against Twitter? Musk announced he was pulling out of his agreement to purchase Twitter for $44billion in April 2022, but only weeks later, he tried to pull out of the agreement. He claimed Twitter had misled him when they told him how many bots were on the app. At the time, Musk tweeted: ...Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users.... Twitter denied the claims and sued Musk on July 12, accusing him of violating the agreement to buy the company. A trial was set for October 17 and was expected to last five days, during which time Twitter would present subpoenas to Musk's banks and associates in an attempt to uncover any information relating to the deal. Musk countersued Twitter, citing misleading information about the number of alleged spam accounts. In a new effort to win the lawsuit, Musk has requested the court push back the trial to November as new information emerges from a whistleblower's account. The whistleblower, Peiter ...Mudge... Zatko, accused Twitter of "extreme, egregious deficiencies,... claiming the company underreported the number of spam bots and how it handles user information. "Twitter is grossly negligent in several areas of information security," Zatko wrote in a February analysis that was included in his complaint to the Securities and Exchange Commission (SEC) and the Department of Justice, and the Federal Trade Commission (FTC). "If these problems are not corrected, regulators, media, and users of the platform will be shocked when they inevitably learn about Twitter's severe lack of security basics." In light of Zatko's claims, Musk is requesting a delay on the court date, and his legal team claims if the allegations are true, will represent a breach on Twitter's side of the agreement. Musk's attorneys are pushing Twitter to release the unredacted documents Zatko sent the board in February 2022 which outlined his concerns, but Twitter has so far refused. "The document does not contain any references to 'spam,' and it is not otherwise responsive to defendants' document requests," Twitter's lawyers told the New York Post. "As such, we do not believe defendants have any basis to demand its production." A Twitter spokesperson told the outlet: "We remain committed to closing the transaction on the price and terms agreed upon with Mr. Musk. They continued: "We have not breached any of our representations or obligations under the Agreement, and have not suffered and are not likely to suffer a Company Material Adverse Effect." Who owns Twitter? Twitter is not owned by a single person, but by shareholders. According to Investopedia, there are five top shareholders in addition to the numerous shareholders around the world. The Vanguard Group, Inc holds the largest stake, owning about 82.4million Twitter shares, which represents 10.3 percent of shares outstanding as of March 31, 2022. Elon Musk had the second-largest stake, owning 73.5million Twitter shares, representing a 9.2 percent stake in the company as of year-end 2021. Morgan Stanley holds the third-largest stake in Twitter with about 67million shares, which represents 8.4 percent of the total outstanding as of year-end 2021. Read More on The US Sun SINGLE LADY Sister Wives' Christine seen with pregnant daughter Mykelti after blasting Kody TAKE NOTE I'm a lawyer - you may be owed a refund worth $1,000s without knowing BlackRock Inc. owns about 52.1million shares of Twitter, representing a 6.5 percent stake as of year-end 2021. The fifth-largest shareholder is State Street Corp., which held 36.4 million Twitter shares, representing a 4.5 percent stake in the company as of the end of 2021.
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