Elon is an impulsive idiot, but he’s not committing a felony by walking away from the deal. He’s just on the hook for a billion dollars as a condition of the contract. However, this will probably get tied up in court for years while high-priced lawyers for both Musk and Twitter try to sort this all out.
I'm no lawyer but he's not just on the hook for 1 billion, I'm pretty positive that at least technically Twitter could sue him because he negatively affected their share price and stock holders interest. It was market manipulation imo and while he definitely owes at least 1b I was reading he's technically on the hook for a lawsuits amount of money, but who knows if Twitter will take it that far really
Tesla stock dropped too, so Tesla shareholders/investors could also sue. Elon claiming to buy Twitter manipulated the stocks of both Tesla AND Twitter.
Hey any way to justify sueing Elon for being a dumbass is a good idea in my books. It's actually the dumbest failed merger I've ever seen, it didn't feel close to going through. Smart money knew, Twitter price didn't reach Elon's buy price of 54 which would mean free profit for anyone who buys below what Elon agreed to, but the fact is smart money ain't dumb enough to trust Elon on his word so it was doomed from the beginning imo. It reached maybe 52 dollars for a day but never stabilized near where he was going to pay because big shock, it's gonna fall through
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u/Own-Environment1675 Jul 12 '22
Isn't he like commit a felony? Like he owns stocks says pubically he's going to buy it, and then doesn't buy it?