Half Approved
As the Musk-Twitter trial is set to occur in October, it’s important that we talk about some recent updates. The last big news was the new whistleblower complaint by former security executive Peiter Zatko, which provided a lot of backing for Musk’s side and created major implications for the trial.
Since then, there have been rulings here and there to set up the case. Judge McCormick allowed Musk’s lawyers to include evidence from the whistleblower complaint in their arguments, but she also ruled in favor of Twitter by ordering Musk to hand over information regarding potential investors for the deal, giving both sides something to work with. Zatko also provided new information at a hearing, saying that Twitter was informed of Chinese and Indian agents being present in their list of employees, and that they’ve simply ignored it. A Saudi Arabian spy was already caught working for Twitter back in August, and this is a major security concern the U.S. government is worried about.
Twitter shareholders also voted to approve Musk’s acquisition deal, meaning that one end of the deal is now set. If Twitter wins the trial, Musk will be forced to approve his end of the deal, and it increases the tension for the legal battle in October. This comes after Musk sent another letter to the company calling for the termination of the deal, but Twitter obviously doesn’t care. The deal’s valuation was at $44 billion, which is $54.20 per share, but Twitter sits at $41 per share. Massive things could happen regardless of who the judge rules for and we’ll see if Musk gets his way again.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.
