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Elon Musk says Twitter is in material breach

https://finance.yahoo.com/news/musk-says-twitter-in-material...
Ruddy dashing parlour
  06/06/22
Nigger
Ruby school cafeteria mood
  06/06/22
Either musk gets Twitter or it gets destroyed. Win-win.
Irate irradiated french chef
  06/06/22
...
adventurous preventive strike
  06/06/22
He will be obligated to buy it at full-price, nothing will h...
cowardly histrionic church
  06/06/22
I don't really care what happens to his money and if he's fo...
Irate irradiated french chef
  06/06/22
180
razzmatazz claret partner
  06/06/22
masterfully played to root out twitter's 50% bots
Snowy double fault psychic
  06/06/22
He can't prove it. He's going to be obligated to buy the com...
cowardly histrionic church
  06/06/22
We got an insider here folks
Irate irradiated french chef
  06/06/22
prove what? he is entitled to see the underlying data for h...
Snowy double fault psychic
  06/06/22
yeah not a huge Elon stan but I don't see how this is debata...
talking ape
  06/06/22
This is way more interesting than that. Are you a lawyer?
Ruby school cafeteria mood
  06/06/22
It's Paulie, lol
adventurous preventive strike
  06/06/22
Oh God lol
slimy vigorous garrison
  06/06/22
My first thought as well
light philosopher-king
  06/06/22
we work hard, put 5% on table, what he do? he demand to see ...
free-loading site
  06/06/22
He questioned the percentage of 'bots' publicly beforehand a...
cowardly histrionic church
  06/06/22
Lol what
light philosopher-king
  06/06/22
His entire Twitter Feed is evidence he believed Twitter's va...
cowardly histrionic church
  06/06/22
It seems like he made the offer with the specific intent to ...
Aromatic stage
  06/06/22
You sound a bit clueless man. There’s a lot more in th...
light philosopher-king
  06/06/22
Just vague statements the Skadden attorney referenced. lol
cowardly histrionic church
  06/06/22
Reading comp issues?
light philosopher-king
  06/06/22
I know "hE wAiVeD dUe dIlIgEnCe" has been repeated...
Bipolar halford whorehouse
  06/06/22
yeah but it’s still funny to see redditors (why ARE th...
free-loading site
  06/06/22
...
light philosopher-king
  06/06/22
It's sad what's happened to xo that there are people here wh...
light philosopher-king
  06/06/22
PP please respond
light philosopher-king
  06/07/22
one weird trick to close 100% of the time: just lie like a m...
free-loading site
  06/06/22
Why are you conceding that he ever relied on Twitter's publi...
Aromatic stage
  06/06/22
...
Boyish School Depressive
  06/06/22
...
Snowy double fault psychic
  06/06/22
...
appetizing coiffed base
  06/06/22
...
light philosopher-king
  06/06/22
...
Irate irradiated french chef
  06/06/22
...
Brilliant titillating liquid oxygen tank
  06/06/22
...
light philosopher-king
  06/06/22
...
Dead bearded temple mad cow disease
  06/06/22
...
adventurous preventive strike
  06/06/22
...
pea-brained underhanded theatre
  06/06/22
Lol
light philosopher-king
  06/06/22
How’s the break fee work, in your mind?
Jade Very Tactful Doctorate
  06/06/22
...
cowardly histrionic church
  11/21/22
...
cowardly histrionic church
  12/15/22
See previous thread here: http://www.autoadmit.com/thread.ph...
Brilliant titillating liquid oxygen tank
  06/06/22
great write up. lol twitter just lol.
Demanding Misanthropic Market Personal Credit Line
  06/07/22
thanl.
Brilliant titillating liquid oxygen tank
  06/07/22
Some securities litigators about to have their summer ruined...
Jade Very Tactful Doctorate
  06/06/22
Gonna be a Del. Chancery action plus a grip of securities cl...
Brilliant titillating liquid oxygen tank
  06/06/22
https://www.gibsondunn.com/delaware-court-of-chancery-addres...
House-broken Dog Poop
  06/06/22
...
free-loading site
  06/06/22
The question is interesting since warranty law has features ...
Brilliant titillating liquid oxygen tank
  06/07/22
Elon "reasonably believed" or "acted on the b...
Aromatic stage
  06/07/22
I'm not sure how to parse what you're asking. The sandbag...
Brilliant titillating liquid oxygen tank
  06/07/22
ty though I was thinking along the lines of detrimental reli...
Aromatic stage
  06/08/22
Detrimental reliance is a way of substituting for considerat...
Brilliant titillating liquid oxygen tank
  06/08/22
Re-reading this since you linked it, I think it's worth poin...
Brilliant titillating liquid oxygen tank
  06/08/22
Sure Elon whatever you say
Flatulent bonkers hall
  06/06/22
SKADDEN LETTER LAYING THE GROUNDWORK: https://www.sec.gov...
Ruddy dashing parlour
  06/06/22
how do these guys work at skadden, they’re gonna be pr...
free-loading site
  06/06/22
imma out myself as a shitlawyer, but isn't this the due dili...
Demanding Misanthropic Market Personal Credit Line
  06/07/22
no not an m&amo by trade but “due diligence&rdquo...
free-loading site
  06/08/22
that distinction makes sense. thank.
Demanding Misanthropic Market Personal Credit Line
  06/08/22
check out the brain on this guy: https://www.skadden.com/...
Abusive Doobsian Resort
  06/06/22
holy shit
Snowy double fault psychic
  06/06/22
gorgeous dome
Dead bearded temple mad cow disease
  06/06/22
gulc gulc gulc
frozen chest-beating institution
  06/06/22
Fuck. Game over for Twitterbois.
Sadistic Athletic Conference
  06/06/22
Fuck. Game over for Twitterbois. Dat Urlacher Phenotype
Sadistic Athletic Conference
  06/06/22
He poasted using the “fuck sluts with humungous butts&...
curious trust fund goyim
  06/06/22
lmaooooooooooooo
Demanding Misanthropic Market Personal Credit Line
  06/07/22
https://files.catbox.moe/tcz951.jpg
Heady rigpig famous landscape painting
  06/06/22
Funny part is he was at Wilson Sonsini until a few years ago...
House-broken Dog Poop
  06/06/22
http://www.writeups.org/wp-content/uploads/Hammerhead-Spider...
Brilliant titillating liquid oxygen tank
  06/07/22
looking at the list, he worked on one of the deals that made...
aphrodisiac anal main people
  06/07/22
He was the inspiration for Coneheads.
Big Well-lubricated Meetinghouse
  06/07/22
180. I'm not a lawyer and I don't really understand the lega...
exhilarant mauve faggotry stead
  06/07/22
This isn't my practice area but that letter looks weak as fu...
Aromatic stage
  06/06/22
agreed its very disappointing
Snowy double fault psychic
  06/06/22
Lol Alpha skadden bro pushing around Wilson sonsini tech dor...
purple hominid
  06/07/22
He’s regretting his initial bid which he realizes was ...
Multi-colored topaz senate telephone
  06/06/22
LMAO @ Musk trying desperately to back out of his autistic i...
Pearl low-t hell boltzmann
  06/06/22
I said this before and they flamed me: "No, here is...
cowardly histrionic church
  06/06/22
Other shit was happening besides Babylon Bee. Maybe that was...
Aromatic stage
  06/06/22
Lol if you think ambien is the hardest thing he's on
Flatulent bonkers hall
  06/06/22
Cr
flickering gunner ticket booth
  06/06/22
I'm as anti-censorship, anti-Twitter as it gets and I though...
Aromatic stage
  06/06/22
there is at least one lawyer that does actually specialize i...
Ruddy dashing parlour
  06/07/22
Simmer down, Marc.
Brilliant titillating liquid oxygen tank
  06/07/22
I don't know if you're joking, but if there were any lawyers...
Aromatic stage
  06/07/22
Musk is the ultimate cherry picker, and it looks like he wil...
Soul-stirring gay wizard
  06/06/22
Seems like he's trying to have it both ways. He's trying to ...
Aromatic stage
  06/06/22
Lol wtf man, are you even a lawyer?
light philosopher-king
  06/06/22
I know zero about this area of law. I keep adding that discl...
Aromatic stage
  06/06/22
are you a lawyer at all though
light philosopher-king
  06/07/22
No
Aromatic stage
  06/07/22
(Moron)
black bateful state nibblets
  06/06/22
i will help you out, there is no dispute that the deal is no...
Bipolar halford whorehouse
  06/07/22
Isn't it trading at a certain price in expectation that it w...
Aromatic stage
  06/07/22
"expectation that it will be purchased" is a synon...
Bipolar halford whorehouse
  06/07/22
Have you ever taken 1L contracts? I vaguely recall cases whe...
Aromatic stage
  06/07/22
Flame
light philosopher-king
  06/07/22
Disney thought about buying Twitter a few years ago and deci...
Thriller garnet chapel crotch
  06/06/22
How can I get Twitter to hire me on full contingency? You p...
saffron casino
  06/06/22
https://mobile.twitter.com/TXAG/status/1533890772713582593?c...
Irate irradiated french chef
  06/06/22
...
Amber circlehead field
  06/07/22
...
Dead bearded temple mad cow disease
  06/07/22
...
adventurous preventive strike
  06/07/22
...
free-loading site
  06/07/22
lol, didn't Tesla move its headquarters to Texas a couple ye...
Ruddy dashing parlour
  06/07/22
Now Trump will be able to tweet again?
saffron casino
  06/07/22
libs are suddenly against investigations!
Maroon concupiscible cuck cruise ship
  06/07/22
To be fair, Good game, Elon fanbois! Take your fucking me...
stirring tattoo jap
  06/08/22
...
light philosopher-king
  06/06/22
feels like Elon Musk went full retard about a year ago. May...
Pearl low-t hell boltzmann
  12/15/22


Poast new message in this thread



Reply Favorite

Date: June 6th, 2022 1:53 PM
Author: Ruddy dashing parlour

https://finance.yahoo.com/news/musk-says-twitter-in-material-breach-of-its-merger-agreement-133732089.html

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636145)



Reply Favorite

Date: June 6th, 2022 10:52 PM
Author: Ruby school cafeteria mood

Nigger

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44639433)



Reply Favorite

Date: June 6th, 2022 1:55 PM
Author: Irate irradiated french chef

Either musk gets Twitter or it gets destroyed. Win-win.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636158)



Reply Favorite

Date: June 6th, 2022 2:00 PM
Author: adventurous preventive strike



(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636202)



Reply Favorite

Date: June 6th, 2022 2:01 PM
Author: cowardly histrionic church

He will be obligated to buy it at full-price, nothing will happen with Twitter other than it continuing to be a marginally profitable company that won't be able provide him a sufficient income stream to offset the damage the company will cause to his personal liquidity.

He will grow bitter and eventually sell 'Free Speech' Twitter after 2024.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636205)



Reply Favorite

Date: June 6th, 2022 2:11 PM
Author: Irate irradiated french chef

I don't really care what happens to his money and if he's forced to buy at the bs price. I'm sure he'll survive with his other 100 billion. So how does any of that affect me?

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636269)



Reply Favorite

Date: June 6th, 2022 1:56 PM
Author: razzmatazz claret partner

180

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636168)



Reply Favorite

Date: June 6th, 2022 1:57 PM
Author: Snowy double fault psychic

masterfully played to root out twitter's 50% bots

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636181)



Reply Favorite

Date: June 6th, 2022 1:57 PM
Author: cowardly histrionic church

He can't prove it. He's going to be obligated to buy the company and be financially ruined in the process.

Funny thing is he plotted with Jack to buy out the company when Jack put Parag in as CEO. Parag didn't care about anything other than his golden parachute, all he wanted was a high bid and he was sold so he jumped at the offer which Musk got trigger happy to provide after the Babylon Bee getting banned triggered him.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636182)



Reply Favorite

Date: June 6th, 2022 1:58 PM
Author: Irate irradiated french chef

We got an insider here folks

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636186)



Reply Favorite

Date: June 6th, 2022 1:59 PM
Author: Snowy double fault psychic

prove what? he is entitled to see the underlying data for how twitter calculates 5% of its users are bots -- twitter is refusing to provide this data -- and he is also entitled to utilize the underlying data and hire experts to come up with their own calculations.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636188)



Reply Favorite

Date: June 6th, 2022 2:24 PM
Author: talking ape

yeah not a huge Elon stan but I don't see how this is debatable

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636369)



Reply Favorite

Date: June 6th, 2022 2:00 PM
Author: Ruby school cafeteria mood

This is way more interesting than that. Are you a lawyer?

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636203)



Reply Favorite

Date: June 6th, 2022 2:02 PM
Author: adventurous preventive strike

It's Paulie, lol

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636215)



Reply Favorite

Date: June 6th, 2022 2:05 PM
Author: slimy vigorous garrison

Oh God lol

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636235)



Reply Favorite

Date: June 6th, 2022 2:13 PM
Author: light philosopher-king

My first thought as well

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636291)



Reply Favorite

Date: June 6th, 2022 2:03 PM
Author: free-loading site

we work hard, put 5% on table, what he do? he demand to see data! i ask u how can he claim breach

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636224)



Reply Favorite

Date: June 6th, 2022 2:04 PM
Author: cowardly histrionic church

He questioned the percentage of 'bots' publicly beforehand and waived due diligence before making the bid.

If he wanted to pursue a lawsuit against Twitter on the basis of bots he could've done that, but it would've taken him years and in the mean time he wouldn't have been able to buy the company (which is what he really wanted to do to get back at the libs for banning the Bee).

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636228)



Reply Favorite

Date: June 6th, 2022 2:23 PM
Author: light philosopher-king

Lol what

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636364)



Reply Favorite

Date: June 6th, 2022 2:32 PM
Author: cowardly histrionic church

His entire Twitter Feed is evidence he believed Twitter's value to be inflated due to 'bots' before he signed the acquisition contract anyway.

He could've pursued legal action against Twitter first on the bot issue, but he just wanted a quick acquisition so he waived due diligence.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636405)



Reply Favorite

Date: June 6th, 2022 4:16 PM
Author: Aromatic stage

It seems like he made the offer with the specific intent to reveal malfeasance of some sort. It's like hiring the world's most expensive private investigator, then trying to withhold payment after you find what you're looking for on Google.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44637016)



Reply Favorite

Date: June 6th, 2022 4:17 PM
Author: light philosopher-king

You sound a bit clueless man. There’s a lot more in the agreements than due diligence or whatever even if he did waive it, which I doubt.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44637033)



Reply Favorite

Date: June 6th, 2022 4:22 PM
Author: cowardly histrionic church

Just vague statements the Skadden attorney referenced. lol

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44637065)



Reply Favorite

Date: June 6th, 2022 4:47 PM
Author: light philosopher-king

Reading comp issues?

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44637243)



Reply Favorite

Date: June 6th, 2022 10:14 PM
Author: Bipolar halford whorehouse

I know "hE wAiVeD dUe dIlIgEnCe" has been repeated on Reddit thousands of times and is now a gospel truth talking point like "Kyle crossed state lines!", but those words strung together are complete gibberish and mean absolutely nothing related to a public company merger agreement.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44639173)



Reply Favorite

Date: June 6th, 2022 10:37 PM
Author: free-loading site

yeah but it’s still funny to see redditors (why ARE they so poor, anyway?) confidently weigh in about closings and diligence bc they recently bought their first starter shitbox at the young age of 37 and thus have some firsthand knowledge on the ins and outs of complex transactions

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44639325)



Reply Favorite

Date: June 6th, 2022 10:38 PM
Author: light philosopher-king



(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44639335)



Reply Favorite

Date: June 6th, 2022 10:39 PM
Author: light philosopher-king

It's sad what's happened to xo that there are people here who would repeat that meme.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44639340)



Reply Favorite

Date: June 7th, 2022 8:17 AM
Author: light philosopher-king

PP please respond

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44640767)



Reply Favorite

Date: June 6th, 2022 2:57 PM
Author: free-loading site

one weird trick to close 100% of the time: just lie like a motherfucker, refuse to substantiate, affirmative defense that the rube clearly knew we were lying at the time he relied on our material misstatements of fact

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636554)



Reply Favorite

Date: June 6th, 2022 4:18 PM
Author: Aromatic stage

Why are you conceding that he ever relied on Twitter's public disclosures? The only thing to suggest that was the size of the offer.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44637039)



Reply Favorite

Date: June 6th, 2022 2:05 PM
Author: Boyish School Depressive



(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636237)



Reply Favorite

Date: June 6th, 2022 2:10 PM
Author: Snowy double fault psychic



(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636268)



Reply Favorite

Date: June 6th, 2022 2:11 PM
Author: appetizing coiffed base



(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636273)



Reply Favorite

Date: June 6th, 2022 2:31 PM
Author: light philosopher-king



(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636401)



Reply Favorite

Date: June 6th, 2022 2:11 PM
Author: Irate irradiated french chef



(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636276)



Reply Favorite

Date: June 6th, 2022 2:13 PM
Author: Brilliant titillating liquid oxygen tank



(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636295)



Reply Favorite

Date: June 6th, 2022 2:29 PM
Author: light philosopher-king



(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636392)



Reply Favorite

Date: June 6th, 2022 2:55 PM
Author: Dead bearded temple mad cow disease



(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636539)



Reply Favorite

Date: June 6th, 2022 3:12 PM
Author: adventurous preventive strike



(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636650)



Reply Favorite

Date: June 6th, 2022 10:15 PM
Author: pea-brained underhanded theatre



(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44639179)



Reply Favorite

Date: June 6th, 2022 2:22 PM
Author: light philosopher-king

Lol

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636361)



Reply Favorite

Date: June 6th, 2022 2:24 PM
Author: Jade Very Tactful Doctorate

How’s the break fee work, in your mind?

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636374)



Reply Favorite

Date: November 21st, 2022 4:59 PM
Author: cowardly histrionic church



(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#45526661)



Reply Favorite

Date: December 15th, 2022 11:59 AM
Author: cowardly histrionic church



(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#45637445)



Reply Favorite

Date: June 6th, 2022 2:12 PM
Author: Brilliant titillating liquid oxygen tank

See previous thread here: http://www.autoadmit.com/thread.php?thread_id=5108236&forum_id=2#44506137

playing out roughly as anticipated.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636288)



Reply Favorite

Date: June 7th, 2022 1:27 PM
Author: Demanding Misanthropic Market Personal Credit Line

great write up. lol twitter just lol.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44642244)



Reply Favorite

Date: June 7th, 2022 1:27 PM
Author: Brilliant titillating liquid oxygen tank

thanl.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44642248)



Reply Favorite

Date: June 6th, 2022 2:24 PM
Author: Jade Very Tactful Doctorate

Some securities litigators about to have their summer ruined!! Noice.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636370)



Reply Favorite

Date: June 6th, 2022 2:24 PM
Author: Brilliant titillating liquid oxygen tank

Gonna be a Del. Chancery action plus a grip of securities class actions. Good times.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636375)



Reply Favorite

Date: June 6th, 2022 10:31 PM
Author: House-broken Dog Poop

https://www.gibsondunn.com/delaware-court-of-chancery-addresses-the-contours-of-sandbagging/

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44639279)



Reply Favorite

Date: June 6th, 2022 10:55 PM
Author: free-loading site



(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44639447)



Reply Favorite

Date: June 7th, 2022 9:33 AM
Author: Brilliant titillating liquid oxygen tank

The question is interesting since warranty law has features of both contract and tort law. Still, likely academic in this context because, given its public disclosures, Twitter would incur substantial securities liability if its defense were, in essence, "Elon knew we were lying about these material statements."

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44640995)



Reply Favorite

Date: June 7th, 2022 12:36 PM
Author: Aromatic stage

Elon "reasonably believed" or "acted on the belief that" don't work as substitutes for "Elon knew?"

What if Elon "knew" something was weird about Twitter, but didn't know what, and he valued access to its secrets at $44bn irrespective of what he might uncover? The alternative requires believing Musk saw >$44bn face value in Twitter, which seems absurd in light of his own statements made in connection with the offer. If that was Elon's motivation, all Elon had to "know" in order for there to be a meeting of the minds was that Twitter was keeping secrets. It's like when people bid on storage lots before they know what's inside them.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44641943)



Reply Favorite

Date: June 7th, 2022 1:22 PM
Author: Brilliant titillating liquid oxygen tank

I'm not sure how to parse what you're asking.

The sandbagging 'defense' seems to me in form to be a way of negating the justifiable reliance element of an action for misstatements in tort (e.g., fraud). (This is embodied in the securities laws, which stem from this common-law source, as, for example, the absence-of-knowledge element of a '33 Act S12 action). But as the case highlighted in the article Drunkard linked points out, justifiable reliance is not an element of a contract action, and Delaware appears to have adopted the contract theory of warranty. (A warranty is a promise of a particular sort, namely, that some state of the world is presently existing. A guaranty is a warranty about future events. There is thus much overlap between warranty/guaranty and the law of false statements.)

My point above was that, even putting aside that this is contract and not tort, it is unlikely that Twitter will go into court and claim that Elon knew before he signed the merger docs that Twitter was lying about its bot #'s, for to make this argument would be tantamount to Twitter admitting to securities fraud (or so enterprising securities lawyers would argue).

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44642218)



Reply Favorite

Date: June 8th, 2022 4:47 PM
Author: Aromatic stage

ty though I was thinking along the lines of detrimental reliance or something like that, not any sort of tort thing. Dood says "I'll buy equity shares are price X," you acquire equity share at price Y in anticipation of receiving X. Don't know if that works here.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44649373)



Reply Favorite

Date: June 8th, 2022 4:50 PM
Author: Brilliant titillating liquid oxygen tank

Detrimental reliance is a way of substituting for consideration when such is lacking -- creates a quasi-contract, or contract by estoppel. But it wouldn't apply here since there's a contract covering the subject matter.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44649400)



Reply Favorite

Date: June 8th, 2022 4:40 PM
Author: Brilliant titillating liquid oxygen tank

Re-reading this since you linked it, I think it's worth pointing out that no, "reasonably believed" or "acted as if" are not synonymous with "knew". Actual knowledge in the law is different from constructive knowledge. But I don't see the distinction as being relevant here.

You also raise a point about a meeting of the minds, but I don't think mistake or anything like that is at issue -- there's no serious argument that, objectively, Elon didn't intend to consummate and anyway, the parties drafted around that with the break fee and the like. [Also see my other poast re: the practicalities.]

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44649310)



Reply Favorite

Date: June 6th, 2022 2:27 PM
Author: Flatulent bonkers hall

Sure Elon whatever you say

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636386)



Reply Favorite

Date: June 6th, 2022 2:42 PM
Author: Ruddy dashing parlour

SKADDEN LETTER LAYING THE GROUNDWORK:

https://www.sec.gov/Archives/edgar/data/1418091/000110465922068347/tm2217761d1_ex99-o.htm

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636459)



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Date: June 6th, 2022 2:47 PM
Author: free-loading site

how do these guys work at skadden, they’re gonna be pretty embarrassed when they find out their client waived diligence

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636482)



Reply Favorite

Date: June 7th, 2022 1:33 PM
Author: Demanding Misanthropic Market Personal Credit Line

imma out myself as a shitlawyer, but isn't this the due diligence period and wouldn't the production he's requesting be part and parcel of a transaction like this considering that it's the meat and potatoes of what twitter does?

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44642276)



Reply Favorite

Date: June 8th, 2022 2:12 PM
Author: free-loading site

no

not an m&amo by trade but “due diligence” isn’t a technical legal term or concept in this context - it’s not a home purchase. diligence is the research conducted before signing the acquisition docs*. the period between that formation of a binding contract and the close (actual payment and ownership change) is when u line up regulatory stuff, maybe do some transition/integration planning for vendors employment health retirement, work on finalizing the financial stuff, etc

*moron redditors and paulie think that he “waived diligence” bc he signed the merger agreement without doing the usual fine toothed comb diligence review first, which was irrelevant here bc twitter is contractually required to give the new management, ie musk, info he asks for, and *truthful* info

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44648281)



Reply Favorite

Date: June 8th, 2022 2:40 PM
Author: Demanding Misanthropic Market Personal Credit Line

that distinction makes sense. thank.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44648479)



Reply Favorite

Date: June 6th, 2022 2:54 PM
Author: Abusive Doobsian Resort

check out the brain on this guy:

https://www.skadden.com/professionals/r/ringler-mike

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636528)



Reply Favorite

Date: June 6th, 2022 2:56 PM
Author: Snowy double fault psychic

holy shit

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636544)



Reply Favorite

Date: June 6th, 2022 2:59 PM
Author: Dead bearded temple mad cow disease

gorgeous dome

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636568)



Reply Favorite

Date: June 6th, 2022 3:11 PM
Author: frozen chest-beating institution

gulc gulc gulc

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636645)



Reply Favorite

Date: June 6th, 2022 4:41 PM
Author: Sadistic Athletic Conference

Fuck. Game over for Twitterbois.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44637184)



Reply Favorite

Date: June 6th, 2022 4:42 PM
Author: Sadistic Athletic Conference

Fuck. Game over for Twitterbois. Dat Urlacher Phenotype

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44637196)



Reply Favorite

Date: June 6th, 2022 6:18 PM
Author: curious trust fund goyim

He poasted using the “fuck sluts with humungous butts” moniker for about a decade.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44637766)



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Date: June 7th, 2022 1:56 PM
Author: Demanding Misanthropic Market Personal Credit Line

lmaooooooooooooo

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44642443)



Reply Favorite

Date: June 6th, 2022 9:33 PM
Author: Heady rigpig famous landscape painting

https://files.catbox.moe/tcz951.jpg

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44638934)



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Date: June 6th, 2022 10:33 PM
Author: House-broken Dog Poop

Funny part is he was at Wilson Sonsini until a few years ago.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44639303)



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Date: June 7th, 2022 6:22 AM
Author: Brilliant titillating liquid oxygen tank

http://www.writeups.org/wp-content/uploads/Hammerhead-Spider-Man-Marvel-Comics-Maggia-h268.jpg

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44640598)



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Date: June 7th, 2022 8:29 AM
Author: aphrodisiac anal main people

looking at the list, he worked on one of the deals that made me $$$

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44640804)



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Date: June 7th, 2022 8:33 AM
Author: Big Well-lubricated Meetinghouse

He was the inspiration for Coneheads.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44640815)



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Date: June 7th, 2022 3:13 PM
Author: exhilarant mauve faggotry stead

180. I'm not a lawyer and I don't really understand the legal shit ITT. But it was worth reading the thread for this poast alone. Another 180, because you deserve it, sir.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44642973)



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Date: June 6th, 2022 4:22 PM
Author: Aromatic stage

This isn't my practice area but that letter looks weak as fuck.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44637063)



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Date: June 6th, 2022 4:32 PM
Author: Snowy double fault psychic

agreed its very disappointing

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44637127)



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Date: June 7th, 2022 1:25 PM
Author: purple hominid

Lol Alpha skadden bro pushing around Wilson sonsini tech dork

https://www.wsgr.com/en/people/martin-w-korman.html

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44642235)



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Date: June 6th, 2022 3:16 PM
Author: Multi-colored topaz senate telephone

He’s regretting his initial bid which he realizes was overpriced. I bet he ends up paying the termination fee to get out of it

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636669)



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Date: June 6th, 2022 3:19 PM
Author: Pearl low-t hell boltzmann

LMAO @ Musk trying desperately to back out of his autistic impulse buy and Trumpmos not seeing this for what it is.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636690)



Reply Favorite

Date: June 6th, 2022 4:24 PM
Author: cowardly histrionic church

I said this before and they flamed me:

"No, here is the full story of what happened for real.

His whole entrepreneurship career was subsidized by the government (especially by the Obama/Biden admin) to start off with. Now he thinks that since for the first time Tesla is making (some but not much) money and that he is on paper the richest man in the world that he doesn't need the Libs anymore. At this point he starts watching shitcon/anti-Biden media especially after Biden passes a bipartisan stimulus bill that grants tax credits to competing electric car companies. Everything is going swell for him until Twitter libs decide to ban the Babylon Bee. At this point since he is the richest man in the world brainwashed by reptile propaganda he decides to simply impulsively buy Twitter using TSLA's shares as leverage for a loan without any hedging whatsoever.

Then the market starts to tank and Elon starts to realize that he's going to get margin called and his reptile brain causes him to 'blame the libs for making him buy twitter'."

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44637075)



Reply Favorite

Date: June 6th, 2022 4:42 PM
Author: Aromatic stage

Other shit was happening besides Babylon Bee. Maybe that was the straw the broke the camel's back, but maybe it was also Grimes and Chelsea Manning tweeting intimate details about him and calling him a traitor. Regardless, there were a million straws underneath it. There was also a power vacuum opening up in Washington.

Overall Musk's biggest blind spot seems to be his understanding of the law. Not just corporate shit, but big ticket shit. That tweet where he invited lawyers to submit resumes was the biggest tell. At first I thought it was a honeypot to collect info on hundreds if not thousands of lawyers who might one day be on the other team. It makes no sense to have a car company pre-announce its intent to make first amendment law. Even if you have a case, you're asking courts to expand the 1A for a billionaire. The optics are shit, and every controversial ruling in his favor will create a legacy of resentment like Citizens United.

But now it looks to me like he may have been sincere about this. I've heard he takes a lot of ambien, and this is consistent with how people behave when they take ambien and stay up. They start drifting off into fantasy land and express ideas they would ordinarily censor. "I want to be like Batman but for the first amendment."

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44637200)



Reply Favorite

Date: June 6th, 2022 10:16 PM
Author: Flatulent bonkers hall

Lol if you think ambien is the hardest thing he's on

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44639190)



Reply Favorite

Date: June 6th, 2022 10:22 PM
Author: flickering gunner ticket booth

Cr

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44639227)



Reply Favorite

Date: June 6th, 2022 11:27 PM
Author: Aromatic stage

I'm as anti-censorship, anti-Twitter as it gets and I thought the deal looked awful. Musk is everything Rach isn't. I mean cot damn Rach is the ONLY actual dood out there with 20 years experience moderating a free speech platform, fighting for free speech, paying out of his own pocket to run the whole thing. Does Musk call him for advice? No, he posts some sleazy tweet asking for resumes from experienced first amendment lawyers, like there's a crew of lawyers out there who specialize in this shit. Rach moderated a forum full of lawyers and probably could have explained to Elon in 5 minutes why free speech twitter won't generate $44bn in ad revenues.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44639626)



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Date: June 7th, 2022 10:59 AM
Author: Ruddy dashing parlour

there is at least one lawyer that does actually specialize in this shit: Marc Randazza

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44641364)



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Date: June 7th, 2022 10:59 AM
Author: Brilliant titillating liquid oxygen tank

Simmer down, Marc.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44641369)



Reply Favorite

Date: June 7th, 2022 12:32 PM
Author: Aromatic stage

I don't know if you're joking, but if there were any lawyers out there who were truly "good at this" they'd be taking cases to SCOTUS, not writing demand letters. Furthermore they need to know Citizens United inside and out, know the full factual background, know what was really argued and what was at stake, and what the follow on effects of that decision were.

Elon has an immediate problem in that he can only expand 1A protections for commercial speech or political speech by billionaires acting through corporate entities. A big win for this asshole will be an even bigger weak spot in 1st amendment jurisprudence than Citizens United. That case was unambiguously CORRECTLY decided and is a big win for political speech protections, but libs were able to mischaracterize it and turn it into some kind of monstrosity that must be one day overturned. Every time Musk goes to court he'll be asking the judge to become pariah in defense on the 1st amendment. Any 1st amendment lawyer worth a shit would have told him not to actually buy Twitter.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44641928)



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Date: June 6th, 2022 3:21 PM
Author: Soul-stirring gay wizard

Musk is the ultimate cherry picker, and it looks like he will end up this time with the pits. Dommage, Elon.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44636698)



Reply Favorite

Date: June 6th, 2022 4:32 PM
Author: Aromatic stage

Seems like he's trying to have it both ways. He's trying to claim the deal was cemented insofar as it obligates Twitter to share data. However, he has a parallel information campaign in which he's trying to present the contract as not fully formed.

Twitter is in the same jam though. If they say "we don't have to provide the data because the sale hasn't finalized," that gives Musk an opening to back out.

OTOH what if Twitter says "we think the deal is closed but this crazy mofo hasn't given us the money yet. We want our $44bn."? Again I'm an idiot when it comes to this corp shit and only recently learned this Delaware Chancellory court writes 90 page opinions on this shit

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44637125)



Reply Favorite

Date: June 6th, 2022 4:49 PM
Author: light philosopher-king

Lol wtf man, are you even a lawyer?

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44637253)



Reply Favorite

Date: June 6th, 2022 9:27 PM
Author: Aromatic stage

I know zero about this area of law. I keep adding that disclaimer. I don't get why corporate law opinions are ever more than 30 pages.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44638905)



Reply Favorite

Date: June 7th, 2022 8:34 AM
Author: light philosopher-king

are you a lawyer at all though

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44640818)



Reply Favorite

Date: June 7th, 2022 9:31 AM
Author: Aromatic stage

No

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44640985)



Reply Favorite

Date: June 6th, 2022 5:49 PM
Author: black bateful state nibblets

(Moron)

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44637683)



Reply Favorite

Date: June 7th, 2022 9:37 AM
Author: Bipolar halford whorehouse

i will help you out, there is no dispute that the deal is not "closed", i.e. Twitter stock is still publicly traded and owned by the shareholders.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44641029)



Reply Favorite

Date: June 7th, 2022 12:24 PM
Author: Aromatic stage

Isn't it trading at a certain price in expectation that it will be purchased at a certain price? I don't recall there being a rule that money must change hands before a contract is formed.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44641871)



Reply Favorite

Date: June 7th, 2022 3:30 PM
Author: Bipolar halford whorehouse

"expectation that it will be purchased" is a synonym for "not closed". "contract has been formed" is not a synonym for "closed". have you ever owned a house?

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44643075)



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Date: June 7th, 2022 3:39 PM
Author: Aromatic stage

Have you ever taken 1L contracts? I vaguely recall cases where courts found a contract existed, notwithstanding the fact that one side disputed that notion and was refusing to pay.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44643114)



Reply Favorite

Date: June 7th, 2022 3:41 PM
Author: light philosopher-king

Flame

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44643129)



Reply Favorite

Date: June 6th, 2022 5:35 PM
Author: Thriller garnet chapel crotch

Disney thought about buying Twitter a few years ago and decided not to because it's a nasty cesspool. This was a dumb thing Musk did and he now wants to back out of it. It's clear as day. He should pay the termination fee for swinging his big dick around and gtfo. Social Media, like airlines, is something you use. You never own that shit.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44637618)



Reply Favorite

Date: June 6th, 2022 5:50 PM
Author: saffron casino

How can I get Twitter to hire me on full contingency? You pay NOTHING unless we win for YOU!

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44637689)



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Date: June 6th, 2022 10:09 PM
Author: Irate irradiated french chef

https://mobile.twitter.com/TXAG/status/1533890772713582593?cxt=HHwWgsC9_fzhvMkqAAAA

Walls are closing in

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44639140)



Reply Favorite

Date: June 7th, 2022 7:14 AM
Author: Amber circlehead field



(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44640692)



Reply Favorite

Date: June 7th, 2022 8:17 AM
Author: Dead bearded temple mad cow disease



(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44640766)



Reply Favorite

Date: June 7th, 2022 9:35 AM
Author: adventurous preventive strike



(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44641014)



Reply Favorite

Date: June 7th, 2022 9:50 AM
Author: free-loading site



(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44641077)



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Date: June 7th, 2022 11:01 AM
Author: Ruddy dashing parlour

lol, didn't Tesla move its headquarters to Texas a couple years ago? i'm sure this was definitely not prompted by a phone call from Elon

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44641374)



Reply Favorite

Date: June 7th, 2022 1:59 PM
Author: saffron casino

Now Trump will be able to tweet again?

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44642461)



Reply Favorite

Date: June 7th, 2022 3:16 PM
Author: Maroon concupiscible cuck cruise ship

libs are suddenly against investigations!

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44642991)



Reply Favorite

Date: June 8th, 2022 1:52 PM
Author: stirring tattoo jap

To be fair,

Good game, Elon fanbois! Take your fucking medicine!

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44648145)



Reply Favorite

Date: June 6th, 2022 10:39 PM
Author: light philosopher-king



(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#44639343)



Reply Favorite

Date: December 15th, 2022 12:00 PM
Author: Pearl low-t hell boltzmann

feels like Elon Musk went full retard about a year ago. Maybe he should be checked for a brain tumor.

(http://www.autoadmit.com/thread.php?thread_id=5124975&forum_id=2#45637454)