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Fraud is not enough. It has to be fraud bad enough to cause a materially adverse effect, which means it would have to seriously impair the value of the business
by xadhominemx 4y ago
Fraud is not enough. It has to be fraud bad enough to cause a materially adverse effect, which means it would have to seriously impair the value of the business.
- deleted 4y ago[deleted]
- tptacek 4y agoWhich is why it's not fraud --- Delaware has effectively never finds MAEs. The premise of him walking away is his (utterly specious, but perhaps practically effective) claim that Twitter breached the acquisition contract by refusing to live up to its information covenants.