Can you officially approve a sale of something the buyer doesn’t even want?
We’ll soon find out because Twitter shareholders voted to approve Elon Musk’s $44 billion bid to purchase the social media company and make it private.
Of course, Musk is heading to court to dump the whole deal because he is convinced what was being packaged is far from reality. Twitter has claimed that less than 5% of monetizable daily active users are bots or fake accounts. They’ve shoveled mountains of information and paperwork to him, thinking it would convince him, but he’s even more convinced it’s bogus.
He tried backing out of the deal, and Twitter sued him for breaching the agreement. Next up, a court case in Delaware next month will be must-see TV.
There is another bit of news that will impact the upcoming trial; the judge will allow Musk’s team to revise his counterclaim against Twitter and bring in allegations a former security chief for Twitter brought to light.
That man’s name is Peiter “Mudge” Zatko, and on the day the board approved the sale, Zatko was testifying before a Senate panel in Washington.
Here are some of the explosive highlights.
“Twitter leadership is misleading the public, lawmakers, regulators and even its own board of directors. The company’s cybersecurity failures make it vulnerable to exploitation, causing real harm to real people.”
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