Elon Musk Shares Meme About Twitter Takeover, on Twitter, as Social Network Prepares to Sue
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Elon Musk Shares Meme About Twitter Takeover, on Twitter, as Social Network Prepares to Sue

2m
4 months ago

Reports suggest Twitter's hired Wachtell, Lipton, Rosen & Katz to handle this upcoming legal battle — and early this week, a lawsuit will be filed with the Delaware Court of Chancery.

Elon Musk Shares Meme About Twitter Takeover, on Twitter, as Social Network Prepares to Sue

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The showdown between Elon Musk and Twitter is getting pretty bizarre.

On Friday, the billionaire had declared that he was terminating a $44 billion agreement to buy the social network.

Musk has continually claimed that Twitter has failed to give him clear information about how many fake users are on its platform.

His legal team made the announcement in a legal filing to the U.S. Securities and Exchange Commission — but now, he's broken his silence… on Twitter.

Early Monday morning — on the same site he's no longer buying — he posted this meme:

It shows four statements — and four pictures of Elon Musk.

The first mentions how Twitter initially pushed back on the takeover attempt, with the billionaire looking fairly amused.

Next, it alleges that the tech giant refused to disclose how many spam and bot accounts are on the platform. Musk laughs.

The third mentions Twitter's threat to commence legal action to ensure the deal goes through. Tesla's CEO is pictured smiling and looking downward.

And last but not least, the meme points out that the social network will now "have to disclose bot info in court" — with Musk seen throwing his head back and laughing hard.

There's no doubt that this is a mischievous tweet, but nonetheless, it's a compelling point: detailed workings of Twitter's practices could end up emerging if this ends up going to court.

But things aren't as clear cut as they may seem. Musk waived his right to perform detailed due diligence when he inked this deal, and many business experts believe concerns over spam accounts aren't enough to wriggle out of the deal.

Reports suggest Twitter's hired Wachtell, Lipton, Rosen & Katz to handle this upcoming legal battle — and early this week, a lawsuit will be filed with the Delaware Court of Chancery.

Some analysts even say Musk's allegations are "unsubstantiated" — and his claims that Twitter's misleading investors over fake users is merely an attempt to abandon the acquisition without paying a $1 billion fee.

A major motivation for Musk likely relates to the fall in Twitter's stock price — far below the $54.20 a share he'd offered earlier this year.

And the latest twist in this drama has caused even more carnage. In pre-market trading on Monday morning, Twitter's share price stood at $34.35 — a fall of 6.7%.

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