According to the lawsuit, the billionaire Tesla CEO tweeted and made statements in an attempt to cast doubt on the deal, which has roiled social media for weeks.

A shareholder filed a petition on Wednesday seeking class-action status and asking a federal court in San Francisco to uphold the deal’s legitimacy and give shareholders any damages authorized by law.

Musk stated last week that his attempt to buy Twitter wouldn’t go through unless he has confirmation of the platform’s spam problem, adding to the uncertainty surrounding his roller-coaster pursuit of the platform.

The suit stated that Musk’s tweet stating the plan to buy Twitter was “temporarily on hold” disregarded the reality that nothing in the purchase contract allows for so.

According to the action filed by William Heresniak of Virginia, Musk arranged his Twitter takeover in late April without performing the due diligence required in such megadeals.

According to the lawsuit, the final contract simply needed to be approved by Twitter shareholders and regulators, and it was set to close on October 24 of this year.

The suit claimed that his goal was to create leverage so that he could get Twitter for a substantially lower price or back out of the agreement without facing any consequences.

“Musk’s market manipulation worked — Twitter’s valuation has dropped by $8 billion since the takeover was disclosed,” the accusation read.

Twitter shares closed marginally higher on Thursday at $39.52, indicating market skepticism that the takeover will be completed at Musk’s original proposal of $54.20 per share.

The post Twitter Shareholders Sue Elon Musk for Stock Manipulation appeared first on Indo Thai News Channel - Travel l Culture l News & Event l Food.

In January, Musk began purchasing Twitter stock. He announced a 9.2% ownership in the company on March 14. Twitter CEO Parag Agrawal announced Musk’s appointment to the board of directors on April 5, calling it a “positive” move that will make Twitter “stronger in the long run.” Musk declined to join the board on April 10, according to Agrawal.

Musk offered a comprehensive proposal to fund the US$44 billion acquisition on April 21. Musk would pay US$21 billion of his own money, the majority of which would come from the sale of his Tesla stock holdings, and he would also borrow US$13 billion against his Tesla stock holdings. Twitter’s board of directors accepted Musk’s offer on April 25 after seeing a realistic finance plan.

Musk stated worries on May 17 that 20% of Twitter accounts are false, that his offer was premised on Twitter’s subscriber count being correct, and that he would not proceed with the acquisition until there was proof that fewer than 5% of accounts are fake.

Musk’s threat was absurd because his offer was never about the number of subscribers or the deal’s finances. After all, Twitter’s revenues, cash flows, dividends, or profits are insufficient to warrant a valuation of US$44 billion.

This could be the groundwork or the foundations of a future modification or cancellation of the deal.

The post Elon Musk Tries to Pull Out of the Twitter Deal appeared first on Indo Thai News Channel - Travel l Culture l News & Event l Food.

As the video of a Twitter employee publicly stating that Twitter has no freedom of speech and that his coworkers are “commies as f***” has gone viral on social media, Tesla CEO Elon Musk has responded. ‘Is this legit?’ Elon Musk commented on journalist Benny Johnson’s video. After a far-right activist group called Project Veritas posted the video of one Siru Murugesan, who described himself as a senior programmer at Twitter, it caused a sensation. Another video has been posted in which Twitter’s lead client partner Alex Martinez discusses how Twitter manages public opinion. Musk has also smiled in response to the footage.

“Twitter does not believe in free speech. Elon believes in free speech. He’s a capitalist and we weren’t really operating like capitalists, more like very socialist. Like we’re all like commie as f***. Ideologically, it does not make sense like because we are actually censoring the right and not the left. So, everyone on the right wing will be like, ‘bro, it’s okay to say it. Just gotta tolerate it.’ The left will be like, ‘No I’m not gonna tolerate it. I need it censored or else I’m not gonna be on the platform,” Siru Murugesan said.

On being asked about what his colleagues think about Elon Musk buying Twitter, the senior engineer said, “They hate it. Oh my God. I’m at least like okay with it. But some of my colleagues are like super left, left, left, left, left. They’re like, ‘this would be my last day if it happens’.”

The post Leaked Video of Twitter Employees Goes Viral appeared first on Indo Thai News Channel - Travel l Culture l News & Event l Food.

Every day, Twitter suspends “over half a million spam accounts,” according to Agrawal. He reaffirmed Twitter’s long-held estimate that less than 5% of its daily active users are spam accounts, which Musk mentioned on Friday when declaring that his $44 billion proposals to buy Twitter were “temporarily on hold.”

That estimate, according to Agrawal, is based on “multiple human reviews… of thousands of accounts” picked at random, but it’s impossible to know which accounts are counted on any given day. While Twitter feels its estimations are “reasonable,” the measures were not independently validated, and the actual number of bogus or spam accounts could be greater.

Musk responded to Agrawal’s first 13 tweets with a feces emoji, which reflected the transaction’s peculiar and highly online character.

Musk then asked a more thought-provoking inquiry. “How do advertisers know what they’re getting for their money?” you might wonder. Musk asked “This is fundamental to the financial health of Twitter,” he added.

Musk has been vocal about bots and spam accounts on Twitter, describing bitcoin spambots as the “single most aggravating problem” on the network. Anyone who has seen the answers to Musk’s tweets knows that they are full of such con artists, many of whom try to profit from Musk’s fame.

However, other analysts believe that the world’s richest man is leveraging the bot issue to lower the price at which he would have to purchase Twitter, whether as a usual bargaining ploy or out of necessity.

The post Twitter CEO Parag Agrawal and Elon Musk Debates on Bots appeared first on Indo Thai News Channel - Travel l Culture l News & Event l Food.