Elon Musk Lawsuit Response: Twitter Trying “To Shroud The Truth About Spam Accounts … To Railroad” M

[Elderberry]

Legal Insurrection by William A. Jacobson Saturday, July 16, 2022

Elon Musk Lawsuit Response: Twitter Trying “To Shroud The Truth About Spam Accounts … To Railroad” Me

“Musk was flabbergasted to learn just how meager Twitter’s process [for measuring spam accounts] was. Human reviewers randomly sampled 100 accounts per day (less than 0.00005% of daily users) and applied unidentified standards to somehow conclude every quarter for nearly three years that fewer than 5% of Twitter users were false or spam.”

I know, I know, you don’t care.

But it matters.

Twitter has sued Elon Musk in Court of Chancery in Delaware, trying to force Musk to close on the deal to purchase Twitter at the inflated price of $54 per share, totaling $44 billion. Musk backed out of the deal, claiming, among other things, that Twitter has failed to provide sufficient or accurate information as to the percentage of Twitter users who are spam or bot accounts. Twitter wants an expedited trial as early as September.

On July 15, 2022, Musk filed his Opposition, which reads in part:

    1. This Court should reject Plaintiff Twitter, Inc.’s (“Twitter”) unjustifiable request to rush this $44 billion merger case to trial in just two months. Twitter’s bid for extreme expedition rests on the false premise that the Termination Date in the merger agreement (“Agreement”) is October 24, glossing over that this date is automatically stayed if either party files litigation. By filing its complaint, Plaintiff has rendered its supposed need for a September trial moot.

    2. Nor does the remainder of the Motion To Expedite (“MTE”) remotely justify extreme expedition, instead highlighting the complexity of the case and the impossibility of completing discovery on the timeline proposed. In fact, Twitter has engaged in tactical delay for two months by resisting Defendants’ information requests, causing Defendants “obvious prejudice” through an overly compressed schedule. Juwell Invs. Ltd. v. Carlyle Roundtrip, L.P., C.A. No. 2020-0338-JRS, at 92 (Del. Ch. May 14, 2020) (TRANSCRIPT) (“Amex”). Twitter’s sudden request for warp speed after two months of foot-dragging and obfuscation is its latest tactic to shroud the truth about spam accounts long enough to railroad Defendants into closing.

More: https://legalinsurrection.com/2022/07/elon-musk-lawsuit-response-twitter-trying-to-shroud-the-truth-about-spam-accounts-to-railroad-me/

[catfish1957]

What might sound like techie mumble jumble is actually fraudlent business practices. Not only for their advertisers, but individual investors as well.

Dorsey and others could face some massive fines and jail time.

The TWATS are probably living in fear, of what might come up in the Discovery aspect of the lawsuit.  SEC, if they will do their job can drop the hammer. 

Musk realizes this, and knows he can sit back now and watch the stock price collapse, and then exercise his first rights for take over.  Shit, this guy is a genius.

[Free Vulcan]

What might sound like techie mumble jumble is actually fraudlent business practices. Not only for their advertisers, but individual investors as well.

Dorsey and others could face some massive fines and jail time.

The TWATS are probably living in fear, of what might come up in the Discovery aspect of the lawsuit.  SEC, if they will do their job can drop the hammer. 

Musk realizes this, and knows he can sit back now and watch the stock price collapse, and then exercise his first rights for take over.  Shit, this guy is a genius.

I can't believe how blatant this is and the SEC is asleep at the wheel.

If this were the NRA they would be busting down doors and spraying neighborhoods with bullets already.

[Fishrrman]

Comrade Vulcan protests:
"I can't believe how blatant this is and the SEC is asleep at the wheel."

Comrade, you are usually pretty astute, but you slipped here.
Who is in control of the SEC now?
The Party, I would think.
They are not "asleep at the wheel".
Au contraire, they are following orders.

The Party protects companies that adhere to "Party lines"...

[Free Vulcan]

Comrade Vulcan protests:
"I can't believe how blatant this is and the SEC is asleep at the wheel."

Comrade, you are usually pretty astute, but you slipped here.
Who is in control of the SEC now?
The Party, I would think.
They are not "asleep at the wheel".
Au contraire, they are following orders.

The Party protects companies that adhere to "Party lines"...

In this case they are playing with Pandora's Box. There are untold number of apolitical shysters that would follow suit if this were allowed to pass.

That kind of thing could bring down the whole financial system.

Of course I doubt they care.

[Kamaji]

I can't believe how blatant this is and the SEC is asleep at the wheel.

If this were the NRA they would be busting down doors and spraying neighborhoods with bullets already.

The SEC is routinely asleep at the wheel - the SEC was repeatedly warned about Madoff and they ignored all of the evidence that Madoff was committing massive fraud.