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Musk waived due diligence in making his offer, and Twitter clearly relied on that waiver when accepting it.
by dtjb 4y ago
Musk waived due diligence in making his offer, and Twitter clearly relied on that waiver when accepting it.
- yucky 4y agoNot a lawyer, but I wonder if the wording on that applies only if there was no attempt to deceive, which would be criminal. It might apply a different standard, since the user count has been used for years in public filings misrepresenting the true value of the company to their shareholders. Could open up twitter to a class action.
- dtjb 4y agoI agree it'll end up being a fight for the lawyers, but Musk cannot credibly claim to be surprised by the bot problem when so much of his and Tesla's twitter presence is propped up by bots (25% of activity due to a recent study - https://today.umd.edu/researcher-studies-teslas-twitter-bot-boost https://today.umd.edu/researcher-studies-teslas-twitter-bot-...)