Musk loses fight to delay Twitter’s lawsuit against him

There once was a man named Musk,

Whose ‘ideals’ were an empty husk,

He tried to buy Twitter,

Negotiations turned bitter,

And the deal went right down the, ahem, drain.

Bob, I could not have avoided said term.

Well played, sir!

@Bob, thank you for summing it up so succinctly, and for a good laugh.

“He’s banking on wriggling out of the deal he signed,” Savitt said.

Golly, it's almost as if the judiciary can see through a transparent attempt to needlessly drag out legal proceedings in the hope of bleeding the opposing party dry.

A deal is a deal. He should stick to his word.

It's way past the time that this arrogant ass was taken down a peg or two.

but but is Trump coming back to twitter!? LOL

Hopefully Musk can cause irreparable damage to that asinine company and they never, ever recover.

Hopefully Musk can cause irreparable damage to that asinine company and they never, ever recover.

nah doubt it, but Truth social has some serious problems with federal prosecutors

It's way past the time that this arrogant ass was taken down a peg or two.

You can talk when you make as much money as he does

You can talk when you make as much money as he does

You mean the money that comes with pumping fake crypto currency?

Or do you mean the "money" that comes with stock prices inflated to unsustainable P/E ratios?

Surely you don't mean the "Born on 3rd base" money that he got from being the son of a mining Barron in S. Africa, right?

I understand any dislike for the individual's attitude/politics/behavior, hell I sold IPO shares of Tesla due to the erratic behavior. However implying that he is not a self made billionaire and immense innovator is not realistic.

You mean the money that comes with pumping fake crypto currency?

Or do you mean the "money" that comes with stock prices inflated to unsustainable P/E ratios?

So what you're saying is that you're jealous that he's more business savvy than you are ?

Surely you don't mean the "Born on 3rd base" money that he got from being the son of a mining Barron in S. Africa, right?

I guess you've never heard of Tesla. Makes sense. LOL

The moral of the story is, rich guys can do anything they want.

I guess you've never heard of Tesla. Makes sense. LOL

I guess you have never heard of a P/E ratio. LOL.

See the stock price, which makes up the overwhelming majority of his "fortune" is artificially inflated to the point that in order to justify that price level, Tesla would have to be one of the largest automobile makers in the world and not a niche player.

I know, business is hard, right? That's why some of us went to school in that very subject.

No, I am not jealous of Elon. I find it offensive that someone born into as much wealth as him, and bragging about a level of wealth that is essentially an illusion, would magically assume himself to be so much the wiser than the rest of us that he can agree to buy a company without due diligence and then think "Hey, I am Elon. I can just sue my way out of it." That is what I dont like.

I am still surprised how Twitter executives did not see the whole thing coming, twitter has already lost a lot from the deal.

The deal had a pull-out clause, whereby Musk would forfeit 1 Billion US$. ... For the purchase of Company, Musk should have the right to exercise that walk-away clause, just like when you purchase a product and find it's faulty, you have, a grace-period in which you can return it and claim your money back.

I guess you have never heard of a P/E ratio. LOL.

See the stock price, which makes up the overwhelming majority of his "fortune" is artificially inflated to the point that in order to justify that price level, Tesla would have to be one of the largest automobile makers in the world and not a niche player.

If that was true, this artificial inflation would have deflated by now. No, like OnTheTrail said,

I understand any dislike for the individual's attitude/politics/behavior, hell I sold IPO shares of Tesla due to the erratic behavior. However implying that he is not a self made billionaire and immense innovator is not realistic.

You may not like him, but he is 10x the business man you will ever be

I know, business is hard, right?

No it isn't.

That's why some of us went to school in that very subject.

Yes I did. International Business major

No, I am not jealous of Elon.

Sure whatever. I believe you

>

Musk is a fan of Iain Banks and is pushing forward many key technologies.

But..his parents owned an emerald mine and he has played fast and loose with government subsidies and contracts.

https://www.google.com/amp/s/www.businessinsider.com/elon-musk-list-government-subsidies-tesla-billions-spacex-solarcity-2021-12%3famp

JTC the $1B is a penalty for either side - there is no clause to allow backing out. And Musk agreed to very limited disclosure/ diligence so bailing on bots won't win in court. Likely the judge will require a settlement at least $20B and TSLA will sink

@Reckless is he doing better or worse than you?

> Negotiations turned bitter,

And the deal went right down the, ahem, drain.

Not quite yet. Funny, about a year ago this time, the left loved and worshipped Musk, and once he taunted the idea of purchasing Twitter because he wanted to give it a redo and make it fairer to conservatives to even out the playing field and then decided Trump should be allowed back on the platform the left had a mental meltdown and now they hate the guy to the core.

Lol, too funny.

Not quite yet. Funny, about a year ago this time, the left loved and worshipped Musk, and once he taunted the idea of purchasing Twitter because he wanted to give it a redo and make it fairer to conservatives to even out the playing field and then decided Trump should be allowed back on the platform the left had a mental meltdown and now they hate the guy to the core.

Lol, too funny.

I don’t know about the left. Tell me more about how they feel.

I do know 45 turned on the guy though, quite the feud.

Let’s talk about that.

Trump called Musk at his Alaska rally, a BS artist.

I don’t know about the left. Tell me more about how they feel.

Turn on any TV station or read online, and the screeching is hard to avoid. 

I do know 45 turned on the guy though, quite the feud.

Fued??? He just had an opinion about him, we all have our opinions of various degrees on people, no biggie.

Let’s talk about that.

Knock yourself out if you must.

I think he can back out of the deal and face the consequences, it always looked like a bad deal for that price and anyway who doesn't want to inflict damage on twiter?

Must make at least a billion dollar mistake in getting caught up in sticking it to the "libs".

It's a great lesson for our children in how not to let your ego and your mouth get the better of you.

I think he can back out of the deal and face the consequences

$1billion minimum in "consequences", and that's if the judge doesn't force the sale.

it always looked like a bad deal for that price

Yeah, it was weird Musk agreed to pay so much for it. Not the smartest business move he's made.

who doesn't want to inflict damage on twiter?

By giving them a billion dollars for... nothing? I wish Musk would inflict that kind of damage upon me! I'm one of the libs he wants to stick it to...

Musk and Twitter agreed to a so-called reverse termination fee of $1 billion when the two sides reached a deal. Still, the breakup fee isn’t an option payment that allows Musk to bail without consequence. A reverse breakup fee paid from a buyer to a target applies when there is an outside reason a deal can’t close, such as regulatory intermediation or third-party financing concerns. A buyer can also walk if there’s fraud, assuming the discovery of incorrect information has a so-called “material adverse effect.” A market dip, like the current sell-off that has caused Twitter to lose more than $9 billion in market cap, wouldn’t count as a valid reason for Musk to cut loose, breakup fee or no breakup fee. 

If Musk were to abandon a bid simply because he felt he overpaid, Twitter could sue him for billions in damages in addition to collecting the $1 billion fee. This has happened before, such as when Tiffany sued French luxury goods conglomerate LVMH in 2020 for trying to back out of its agreed-upon deal. That suit settled when Tiffany agreed to lower its sale price from $16.2 billion to roughly $15.8 billion.

Fued??? He just had an opinion about him, we all have our opinions of various degrees on people, no biggie.

No biggie. No biggie what the left think then either. Don’t see your point really.

Go Twitter, sue that clown !!..

The left really turned on Musk after years of thinking he was their guy.

the funny thing is, he is still a leftist! just not a far leftist as is now required in the purity test.

The left really turned on Musk after years of thinking he was their guy.

Is he your guy? Still holding out for a hero?

Never give up the dream!

never been my guy, he always was a leftist. just helped me to make a buttload of money so I thank him for that and support what he is doing for US technology advances.

he is just not as far left as everyone else has suddenly become, so he seems more and more reasonable politically/culturally. doesnt mean he isnt a leftist still.

No biggie. No biggie what the left think then either. Don’t see your point really.

I don't see the lefts either and yet, they still complain....odd....

Is he your guy? Still holding out for a hero?

Does the left have one? and who?

Lol, that complex court case is moving faster than a simple Russian mj court

Lol, that complex court case is moving faster than a simple Russian mj court

The judge who is hearing the case is the equivalent of the court's presiding judge. She is their most senior and experienced judge, no nonsense and efficient. Mr. Musk needs to be very careful with his public comments and his social media posting while the case is being heard lest he anger this judge and / or otherwise say something to prejudice his case.

For the benefit of some who post here , this is a commercial dispute, not a political one. If Mr. Musk and Twitter do not reach a settlement it will be decided in a courtroom in accordance with the laws of Delaware in which both Twitter and Tesla are incorporated. There is no political component to this whatsoever.

Twitter for Musk will end up being a Lemon, dragging down Tesla and SpaceX - what a shame. It's a Story repeated throughout time, and now, Musk is no different, it's sad that so many will end up having to pay for his mistake. What a Twit.