A large majority of Twitter shareholders approved the buyout, now Musk wants to fight his way out of it.
Elon Musk proposed a buyout of Twitter in April. And even if he has filed numerous requests to terminate the agreement, Twitter, on the other side, has encouraged investors to accept it. With a deal now approved by a large majority of shareholders, Twitter will continue with a lawsuit intended to force Musk to go ahead with the acquisition.
As noted by The Verge, the approval means that Musk and Twitter will proceed to an October trial in the Delaware Court of Chancery. During the trial, Musk will continue arguing that Twitter concealed important facts about its internal operations, including an alleged undercount of spam and bot accounts on the platform as well as details revealed by former Twitter security head Peiter “Mudge” Zatko. On the other hand, Twitter will push to close the deal regardless, alleging that Musk’s complaints are merely a pretext for backing out.
In the meantime, we might get the edit button, and honestly, that is all that users care about right now.
You might also like
More from Twitter
Twitter has made it harder to switch between the Latest and Home feeds in the app, with the algorithm-based feed …
Twitter recently unveiled a new Creator Dashboard to help creators make the shift into monetized content creation.
Twitter has announced updates for its Birdwatch crowdsourced fact-checking program, and a new testing group of random US users.
Developers can take part in the initiative and identify their accounts as bots, displaying a label on their profiles and …
The tool, which automatically blocks abusive accounts for seven days, has been extended to users in a number of English-speaking …