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)?
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)?
Very good point. I've said this same thing previously. However, there's another angle to this that doesn't involve the SEC. Twitter's shareholders have all the legal standing they need to pursue separate legal action against the Twitter board for securities fraud. And the SEC may be compelled to act if these shareholders make a strong case.
It's worth noting that at almost every step in this process, Twitter's board has been forced to act against its own declared intentions under threat of lawsuits by two of its major shareholders -- namely, the governors of Texas and Florida (acting as fiduciaries for their state pension funds). This is how Musk's purchase offer ended up being accepted by the Twitter board even after they had previously rejected it, for example.