Shares of Twitter plummeted on Monday afternoon on the prospect of a prolonged legal fight between the social media company and billionaire Elon Musk, who says he's pulling out of a buyout deal, leaving Twitter's future in doubt.
on Friday, Musk claimed that Twitter refused to provide enough information about the number of fake accounts it has and that Musk's advisors determined the true incidence of bots on the platform is"wildly higher" than Twitter claims.
Musk will have to demonstrate either that Twitter deliberately lied about how many bots it had or that executives suspected they had a bot issue but chose to ignore it, said Shapiro, who predicted that it will be an exceedingly difficult bar to meet. However, if Musk successfully makes that case — a big if — he could conceivably persuade a judge to let him walk out of the deal.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Elon Musk hits back at Twitter's court threat in the most Elon Musk way possibleElon Musk mocked Twitter's efforts to force him to purchase the company -- in a tweet, of course.
Les mer »
Elon Musk terminating $44 billion deal to buy TwitterTwitter Chairman Bret Taylor responded saying the board is still committed to the terms of the agreement and 'plans to pursue legal action to enforce the merger agreement.'
Les mer »
Elon Musk tells Twitter he's terminating deal to buy social media giantElon Musk is terminating the agreement to by buy Twitter, alleging that the social media giant made 'false and misleading representations.'
Les mer »
Twitter, Elon Musk Set for Unprecedented Legal Battle Over Deal CollapseElon Musk, Twitter set for legal slugfest after billionaire moved to back out of $44 billion purchase of social-media platform
Les mer »
Twitter Faces Renewed Questions on Path Ahead as Elon Musk Tries to Abandon DealElon Musk’s decision to try to walk away from his $44 billion acquisition of Twitter after weeks of criticizing the company leaves the bruised social-media platform reeling in the midst of an already challenging period
Les mer »
What's next for Twitter now that Elon Musk wants out?CNN News, delivered. Select from our newsletters below and enter your email to subscribe.
Les mer »