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I don't know how the legal system works, but his argument sounds valid to me. “My offer was based on Twitter's SEC filings being accurate,” Willfully filing

by nonameking2026 4y ago

I don't know how the legal system works, but his argument sounds valid to me. “My offer was based on Twitter's SEC filings being accurate,” Willfully filing fraudulent SEC filing is a crime - and if Twitter has been engaging in criminal behavior to artificially increase their value - I would think Musk has a good case.

CogitoCogito 4y ago
> Willfully filing fraudulent SEC filing is a crime - and if Twitter has been engaging in criminal behavior to artificially increase their value - I would think Musk has a good case. Ignoring whether this is a legitimate reason to back out of the agreement, Musk hasn't shown that Twitter has been filing fraudulent SEC filings so what does it matter anyway?
- nonameking2026 4y ago
  "In the merger agreement, Twitter promised to do certain things between signing and closing, and it has to do those things, whether or not there would be a material adverse effect from not doing them. So if Musk can prove that Twitter hasn’t complied with its obligations, he can get out of the deal." From https://www.bloomberg.com/opinion/articles/2022-07-09/elon-s-out https://www.bloomberg.com/opinion/articles/2022-07-09/elon-s...
  - CogitoCogito 4y ago
    So far Musk has provided no evidence that the SEC filings on bots are false and he's basically just making repeated unnecessary requests trying to force Twitter into being "uncooperative". I find the notion that the deal should be terminated based upon that pretty ridiculous. The article you linked seems to agree with me. Regardless, Musk is making a lot of claims. Let's see if he can provide any reasonable evidence of those claims and make any reasonable arguments that will be accepted in court. There's really no point in speculating anymore. Now we just need to wait to see if a judge is actually buying his arguments.
- jfoster 4y ago
  It matters because that will probably be one of the deciding factors should this eventually be assessed in court.
  - CogitoCogito 4y ago
    > It matters because that will probably be one of the deciding factors should this eventually be assessed in court. Musk has _not_ provided any evidence of fraud. I'll wait until he actually does before speculating as to how decisive it will be in any future court proceedings.
    - jfoster 4y ago
      None of that changes that it does seem to be the key criteria that the outcome of case will depend upon.
      - CogitoCogito 4y ago
        If that truly is key criteria, then I hope Musk actually has some evidence for his claims for his sake.

CogitoCogito 4y ago

> Willfully filing fraudulent SEC filing is a crime - and if Twitter has been engaging in criminal behavior to artificially increase their value - I would think Musk has a good case. Ignoring whether this is a legitimate reason to back out of the agreement, Musk hasn't shown that Twitter has been filing fraudulent SEC filings so what does it matter anyway?

nonameking2026 4y ago
"In the merger agreement, Twitter promised to do certain things between signing and closing, and it has to do those things, whether or not there would be a material adverse effect from not doing them. So if Musk can prove that Twitter hasn’t complied with its obligations, he can get out of the deal." From https://www.bloomberg.com/opinion/articles/2022-07-09/elon-s-out https://www.bloomberg.com/opinion/articles/2022-07-09/elon-s...
- CogitoCogito 4y ago
  So far Musk has provided no evidence that the SEC filings on bots are false and he's basically just making repeated unnecessary requests trying to force Twitter into being "uncooperative". I find the notion that the deal should be terminated based upon that pretty ridiculous. The article you linked seems to agree with me. Regardless, Musk is making a lot of claims. Let's see if he can provide any reasonable evidence of those claims and make any reasonable arguments that will be accepted in court. There's really no point in speculating anymore. Now we just need to wait to see if a judge is actually buying his arguments.
jfoster 4y ago
It matters because that will probably be one of the deciding factors should this eventually be assessed in court.
- CogitoCogito 4y ago
  > It matters because that will probably be one of the deciding factors should this eventually be assessed in court. Musk has _not_ provided any evidence of fraud. I'll wait until he actually does before speculating as to how decisive it will be in any future court proceedings.
  - jfoster 4y ago
    None of that changes that it does seem to be the key criteria that the outcome of case will depend upon.
    - CogitoCogito 4y ago
      If that truly is key criteria, then I hope Musk actually has some evidence for his claims for his sake.