Disputes like this often end in a negotiated settlement between the two parties, with jail not an issue.
My best guess is Elon Musk gets to buy Twitter at a much lower price eventually.
Its a private matter.. in terms of the buy or not buy... that’s civil court...
It would be up to the SEC to decide to take Twitter to court for criminal fraud if it is proven they lie about their user base etc....
Anyone want to lay odds that the DOJ is going to prosecute anyone at twitter for lying under this administration (or any other for that matter)?
Expect Elon had this planned out before the first offer.
Funny how it’s been a catty back-and-forth for months.
E: “I’ll buy Twitter.”
T: “No you won’t not ever.”
E: “You don’t have a choice, stock is public for purchase.”
T: “We’ll fite you.”
E: “Ok, I won’t buy.”
T: “Wait, you MUST make an offer. You own too much to stop now.”
E: “Ok, here’s enough to make shareholders happy to sell.”
T: “Not enough.”
E: “Ok, I won’t buy.”
T: “But you PROMISED.”
E: “Ok, I’ll buy but you have to show me the true bot count.”
T: “What bots? there are no bots.”
E: “Half of users are bots. No sale.”
T: “Oh, ha ha, THOSE bots.”
E: “You’re still hiding the true bot count.”
T: “Doesn’t matter, you MUST buy.”
E: “Bot count?”
T: “No.”
E: “I’m out. Bye.”
T: “But you PROMISED.”
E: [walks away]
T: “We’ll SUE!”
E: “Oh, good, you’ll have to show a judge the true bot count.”
...and the saga continues.
Elon himself posted a meme today summarizing this.
Devaluing Twitter was Musk’s game from the start of offering the deal. If Twitter has a low value if he actually gets it, then there’s room for him to grow it and profit along with shareholders from a low point. It wouldn’t be the first buyout that he has done as an investor.
You left out the main ingredient... the NDA!!!
I think you are right.
Judges like settlements. The mention of jail makes it nasty and encourages settlement.
Unmentioned is the fact that if Musk does go ahead and forced to accept the original deal, he will be handed all the evidence and the existing management is still guilty with Musk owning the evidence.
I don’t see that in the final analysis he can be the loser.