In an SEC filing, Elon Musk adds Peiter Zatko's allegations as a reason to terminate the $44B takeover bid, saying Twitter is in “material noncompliance”
Giles Turner / Bloomberg :
Bloomberg Giles Turner
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Discussion
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@b_fung
Brian Fung
on x
Musk has now added Twitter whistleblower Peiter Zatko's allegations as a reason he should be allowed to back out of buying the company. Here's the letter Musk's legal team sent: https://www.sec.gov/...
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@annmlipton
@annmlipton
on x
My very preliminary assessment is that it's pretty much as expected. Fraud, or alternatively failures bad enough to be an MAE. I take issue with literally how this letter reads Section 4.8 of the merger agreement, but since 4.8 is still covered by the MAE qualifier (right???) -
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@annmlipton
@annmlipton
on x
AAH HA HA HA HA Presumably this is prelude for amending his Chancery filings; the grounds here all are state law, not fed. https://twitter.com/...
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@danprimack
Dan Primack
on x
As expected after the whistleblower complaint: Elon Musk files another notice to terminate Twitter acquisition, citing additional reasons https://www.cnbc.com/...