Elon Musk is a national hero
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https://abcnews.go.com/Business/wireStory/elon-musk-accused-breaking-law-buying-twitter-stock-84045275
The complaint in New York federal court accuses Musk of violating a regulatory deadline to reveal he had accumulated a stake of at least 5%. Instead, according to the complaint, Musk didn’t disclose his position in Twitter until he’d almost doubled his stake to more than 9%. That strategy, the lawsuit alleges, hurt less wealthy investors who sold shares in the San Francisco company in the nearly two weeks before Musk acknowledged holding a major stake.
The lawsuit alleges that by March 14, Musk's stake in Twitter had reached a 5% threshold that required him to publicly disclose his holdings under U.S. securities law by March 24. Musk didn't make the required disclosure until April 4.
That revelation caused Twitter's stock to soar 27% from its April 1 close to nearly $50 by the end of April 4's trading, depriving investors who sold shares before Musk's improperly delayed disclosure the chance to realize significant gains, according to the lawsuit filed on behalf of an investor named Marc Bain Rasella. Musk, meanwhile, was able to continue to buy shares that traded in prices ranging from $37.69 to $40.96.
The lawsuit is seeking to be certified as a class action representing Twitter shareholders who sold shares between March 24 and April 4, a process that could take a year or more.
anyone can sue anyone. This strikes me as a cash grab. And a counter assault -
And we can't forget that if Twitter rebuffs him not only will Elon dump his 10% but you have to think MANY institutional investors would be furious with them and there could be a steep sell off. As previously stated they are in a really tough spot and if they can't get some rich leftard to beat his offer, they may have no choice. It absolutely delights me thinking of all of those radical SF progressives getting fired en masse after he storms the gates. Please let this happen.
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It just dawned on me. If he manages to buy it he can move the entire company to Texas and liberals heads will literally explode. I am delighted right now.
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Swaye said:
From MSN (lol):
Some analysts, though, say the company might not have a choice.
“It probably happens. Management is in a tight spot here,” Gene Munster of Loup Ventures said on CNBC’s “Squawk Box.” “A rebuff would be a powerful mistake.”
Wedbush analyst Dan Ives agreed, saying he believes the Twitter board will ultimately accept the bid, but not immediately.
"It would be hard for any other bidders/consortium to emerge and the Twitter board will be forced likely to accept this bid and/or run an active process to sell Twitter," he wrote in a note to clients. "The next step will be Twitter's Board officially reviewing the Musk filing/letter and then [it’s] get out the popcorn time as we expect many twists and turns in the weeks ahead as Twitter and Musk walk down this marriage path."
And Michael Hewson, chief market analyst at CMC Markets, called the bid “very generous … for a business that has been a serial underperformer and tends to treat its users with indifference.”
When even MSN thinks they are fucked, they are well and truly fucked. -
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Free speech led to Trump who is a fascist who hates free speech
DAWG sense -
Translation: We don't like opposing views that upset the narrative here. Go build your own sandbox, fella!RaceBannon said: -
And do not locate it in Austin, Dallas, SA or Houston. How about El Paso, College Station or Lubbock. And if he really wants to make Twitter employees quit, announce that he's moving it to Waco.Swaye said:It just dawned on me. If he manages to buy it he can move the entire company to Texas and liberals heads will literally explode. I am delighted right now.
