Elon Musk
Elon Musk is a man who has been sued several times, but this time he is the one who is suing Twitter, but why would Musk want to sue a company that he intends to take private and if he wins? If he does, what will he gain?
Delve into Elon’s lawsuit against Twitter Even before the Twitter acquisition has turned from a financial war to a legal war, let’s take a quick look at some of the lawsuits that the Tesla CEO has faced, past the top of the list, that second. There is a lawsuit in which Elon Musk was accused of fraud by making some misleading statements.
When he tweeted a tweet that said I’m considering taking Tesla private over 420 funding, those few words were safe enough to put Elon Musk in the biggest legal battle of his lifetime, according to US Securities and Exchange Board of Directors. And the Exchange Commission alleges that Musk didn’t have enough money to take Tesla private.
As claimed by the tweet that resulted in Musk being lost, he sued and was initially forced to face the dire consequences, leaving his role as Tesla chairman and serving three years in that position. The service was not to be served when the matter was resolved.
Musk and his Tesla company were both required to pay $20 million, which was being used to reimburse any shareholders who were harmed by the tweet, and eventually forced Musk to post a tweet about the company. That was when the company’s lawyers saw it.
There’s no doubt that Elon has learned a lot from his experience being sued and he’s using that experience to sue Twitter. The legal battle in Twitter is two-fold because of Elon Musk, a shareholder on the one hand. is suing while on the other hand Elon Musk is suing the company that the shareholder is suing Elon Musk.
The tech icon is accusing Twitter of not disclosing its intention to buy in good time, as the law requires that anyone intending to buy more than 5% stake in a company must notify the stock about the same. .
In Elon’s case 10 days before the purchase, he should have told Twitter shareholders of his intention to buy a stake in the company by March 25 because he had bought the stake on April 4, the day the shareholders claimed he lost. Musk would have earned from the day Musk expressed his intention to buy the stake.
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By the time he was actually going to buy a stake in the company, he further alleged that Elon Musk may have earned more than $126 in a 10-day delay at the earliest. 27 in 2014, increasing Elon’s initial investment of $2.9 billion to $3.6 billion in a matter of days.
The tech billionaire is so influential that one tweet of his is enough to make cryptocurrency prices fluctuate on his behalf, with Elon Musk suing the Twitter board for failing in his fiduciary duty. Seen in tweet. In which it is written that if the current Twitter board takes action contrary to Sharp, in the interest of shareholders they will be violating their fiduciary duty.
The obligation they assume will be largely Titanic, the Twitter board has a duty to act in the best interest of shareholders, as the board is expected to adopt any decision. Benefit to Shareholders Elon has the right to sue the board members for rejecting its bid of 54.20 per share amounting to 43 billion Elon Musk.
They believe that their price is the best and shareholders will definitely like it, so the board is at fault in this case. While rejecting the shareholder-friendly price, Elon Musk also noted that the board’s The economic objectives are not aligned with those of the shareholders. As much as the Twitter board is frustrating Kasturi’s efforts to take the huge social media platform private.
The total stake of all 11 shareholders of the small investment in the company is 2.37 percent. When Jack Dorsey’s stake is removed, the total share of the other 10 board members of the board will be only 0.12. So it would be easy for Elon Musk to sue the Twitter board.
Acting in the best interest of shareholders, Elon Musk will sue Twitter for charging more in his Twitter Blue subscription fee than the Tesla billionaire believes the current fee of three. Such customers would have to pay twenty-four dollars per year, which would help them save L$12: Also the tech guru has promised.
That users will have the option of paying their membership in Dogecoin as crypto enthusiast Elon Musk to devalue the digital currency will greatly shape the future in the crypto world. Intends to replace the logo with birds with a logo Dogecoin Twitter will be punished by the courts.
The Tesla CEO is one man who is leading the courts with the intention of forcing Twitter to make its algorithms open source if they are found guilty of overcharging their customers. Twitter finds fault with algorithms, which it claims affect what people can see on their Twitter pages.
Twitter must open its algorithms to public scrutiny if the case is to be won. Similarly, Elon Musk is a free speech lawyer who believes that everyone has the right to say what they think without limitation when Musk wins the case. If so, Twitter will need to ban everyone they have banned in their plan.
Notify that President Donald Trump is expected to be the biggest beneficiary when Twitter removed him They were protesting against the alleged rigging of elections.
But there is a very small chance that Trump will return to Twitter as he has: having already started his own social media platform known as Truth Social, although the social media site is gaining global recognition. as it is only available in the US and Canada.
Another limitation with Truth Social is that it’s only available for iOS users which locks out most people using Android phones if Musk loses a lawsuit that Tesla CEO has revealed. They have an option to start their own.
The own social media platform that will address the shortcomings of the new social media site’s Twitter users will have free speech as Musk is a free speech advo. The cat site will also not have the spam bots that are prevalent on Twitter, although the scammers’ accounts will be permanently closed.
There will be no refund in the past, has been very critical of spambots it hates, you can rest assured that the algorithms new site will be open source and available for public scrutiny Elon Musk will not try to interfere in any way what the users of the platform are doing.
The site will also guarantee your privacy unlike other social media giants such as Facebook which have been accused of data breaching Signal and Telegram are some of the social media platforms that are known to protect the privacy of their users, you can also ensure that can.
Your privacy is guaranteed when browsing using the DuckDuckGo browser. But there’s a huge possibility that Elon Musk will win the lawsuit that he’s a fighter that rarely loses against anyone. To make one have to beat all the odds.