Twitter, which is one of the first platforms that comes to mind when it comes to social media, continues to come to the fore with non-platform events lately. The acquisition attempt of the company with Elon Musk and what happened after it causes the company to remain on the agenda. It seems that the process continues at full speed.
Twitter shareholders approve $44 billion acquisition of Elon Musk
The attempt of Elon Musk, the richest person in the world, to buy Twitter had a bomb effect all over the world. The events that followed brought the parties to the litigation process. Finally, Twitter shareholders addressed this issue with a special meeting about the direction of their investments.
During the special meeting, which lasted about seven minutes, the shareholders put several important proposals on their agenda. The most important of these was the possible purchase of Elon Musk. As a result of the vote, Twitter shareholders approved the $44 billion acquisition of Elon Musk.
On the other hand, as a result of this vote, although it seems like the shareholders’ approval of Elon Musk’s leadership, it is a step that takes the parties to the lawsuit process. Musk and Twitter will face off in the first hearing to be held in the Delaware Chancery Court in October.
What is the situation in the case process?
Twitter had cornered the businessman in a way during the lawsuit he entered with Elon Musk. But security chief Peiter Zatko, who was fired from the company in January, made a claim that would completely turn the tide. According to Zatko, Twitter has had times in the past when it has been irresponsible about security and has hidden it.
The case with Elon Musk could change completely if Twitter allegedly withheld some information about security issues from its shareholders and users. The company filed a lawsuit, stating that it left Musk in a difficult situation by giving up the purchase and that it benefited itself economically.
Elon Musk attributed his abandonment of the purchase to the company’s failure to share facts about security, spam and bot accounts. However, it was said that Musk’s trump card was not good and Twitter would win the case. However, if the latest allegations are true, difficult days await Twitter.
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