{"id":1547856,"date":"2022-07-11T06:00:03","date_gmt":"2022-07-11T10:00:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1547856"},"modified":"2022-07-11T06:34:47","modified_gmt":"2022-07-11T10:34:47","slug":"elon-musk-to-face-off-against-twitter-in-epic-legal-battle","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/elon-musk-to-face-off-against-twitter-in-epic-legal-battle\/","title":{"rendered":"Elon Musk to Face Off Against Twitter in \u201cEpic\u201d Legal Battle"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Felon-musk-to-face-off-against-twitter-in-epic-legal-battle%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1547856&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<p>Elon Musk, on Friday, decided to <a href=\"https:\/\/redstate.com\/carcand\/2022\/07\/08\/breaking-elon-musk-terminates-twitter-deal-n591416\" target=\"_blank\" rel=\"noopener\">walk away<\/a> from his $44 billion deal to buy social media giant Twitter, but the story is far from over. Twitter quickly <a href=\"https:\/\/www.nytimes.com\/2022\/07\/09\/technology\/twitter-elon-musk-lawsuit.html\" target=\"_blank\" rel=\"noopener\">fired back<\/a>, saying it intends to hold Musk to the terms of the acquisition and \u201cwould sue Musk in a Delaware chancery court to force him to\u201d complete the sale.<\/p>\n<p>Musk\u2019s decision to nix the deal was based on his claim that fake accounts and bots lowered the value of the company. On Friday, I told the story of what <a href=\"https:\/\/redstate.com\/bobhoge\/2022\/07\/08\/as-the-musk-twitter-deal-falls-apart-we-ask-just-what-are-bots-anyway-n591555\" target=\"_blank\" rel=\"noopener\">bots actually are<\/a> and why they\u2019re important. Meanwhile, my colleague Mike Miller reported on how Elon\u2019s latest move might be \u201c<a href=\"https:\/\/redstate.com\/mike_miller\/2022\/07\/09\/musks-latest-move-might-be-unbelievably-crippling-to-twitter-regardless-of-how-it-plays-out-n591930\" target=\"_blank\" rel=\"noopener\">unbelievably crippling<\/a>\u201d to Twitter regardless of how this plays out.<\/p>\n<p>Back to what\u2019s next. The <a href=\"https:\/\/www.nytimes.com\/2022\/07\/09\/technology\/twitter-elon-musk-lawsuit.html\" target=\"_blank\" rel=\"noopener\">New York Times<\/a> reports that:<\/p>\n<blockquote>\n<p>\u2026the fate of the influential social media network will be determined by what may be an epic court battle, involving months of expensive litigation and high-stakes negotiations by elite lawyers on both sides.<\/p>\n<\/blockquote>\n<p>Grab the popcorn, this one could be a doozy. The big question is, will a court require Musk to consummate the deal, or will he be able to walk away, albeit with as much as a billion-dollar penalty? According to both the <a href=\"https:\/\/www.wsj.com\/articles\/twitter-elon-musk-set-for-unprecedented-legal-battle-over-deal-collapse-11657404303?mod=hp_lead_pos1\" target=\"_blank\" rel=\"noopener\">Washington Post<\/a> and the NY Times, legal experts believe that Twitter has the upper hand. The Times provides a word of caution though:<\/p>\n<blockquote>\n<p>\u2026Mr. Musk revels in impulsiveness and brinkmanship and is backed by a fleet of top bankers and lawyers. Rather than engaging in a protracted public brawl with the world\u2019s richest man and his legions of die-hard followers, Twitter might come under pressure to find a swift and relatively peaceful resolution \u2014 one that could preserve the company\u2019s independence but leave it in a tenuous financial position.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Elon Musk made his way through life by upending reality. <\/p>\n<p>Unless you\u2019re smarter than he is, it\u2019s unlikely that you see this situation unfolding the way it ultimately will. <\/p>\n<p>Betting against or doubting Elon is usually the wrong move.<\/p>\n<p>\u2014 Cernovich (@Cernovich) <a href=\"https:\/\/twitter.com\/Cernovich\/status\/1545866485599334400?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">July 9, 2022<\/a><\/p>\n<\/blockquote>\n<p>According to <a href=\"https:\/\/fortune.com\/2022\/07\/09\/the-fight-between-musk-and-twitter-will-come-down-to-3-words-and-they-rarely-work%ef%bf%bc\/\" target=\"_blank\" rel=\"noopener\">Fortune<\/a>, the entire affair will come down to three words: \u201cMaterial Adverse Effect.\u201d\u00a0In other words, Musk must prove that Twitter\u2019s refusal, in his view, to supply adequate information about fake accounts constitutes an adverse effect that didn\u2019t enter into his initial calculations in offering to buy the company. Per Fortune:<\/p>\n<blockquote>\n<p>To escape the deal, Musk must prove the alleged omission amounts to an \u201cunexpected, fundamental, permanent\u201d negative development\u2014akin to blowing a hole in the transaction that can\u2019t be fixed, said Larry Hamermesh, a University of Pennsylvania law professor.<\/p>\n<\/blockquote>\n<p>Twitter stands by its estimates that only five percent of its users are fake, but other reports claim that the actual number is <a href=\"https:\/\/sparktoro.com\/blog\/sparktoro-followerwonk-joint-twitter-analysis-19-42-of-active-accounts-are-fake-or-spam\/\" target=\"_blank\" rel=\"noopener\">closer to 20 percent<\/a>.<\/p>\n<p>It\u2019s hard to know where this is going, as in many ways, this case is unprecedented. The <a href=\"https:\/\/www.wsj.com\/articles\/twitter-elon-musk-set-for-unprecedented-legal-battle-over-deal-collapse-11657404303?mod=hp_lead_pos1\" target=\"_blank\" rel=\"noopener\">Wall Street Journal<\/a> writes:<\/p>\n<blockquote>\n<p>\u201cWhat are they going to do if there is a judgment and he says, \u2018Well, I\u2019m still not going to buy it\u2019?\u201d said Zohar Goshen, professor of transactional law at Columbia Law School. \u201cThey don\u2019t really have tools to force him to go through with it. You don\u2019t put people in jail because they don\u2019t buy something.\u201d<\/p>\n<\/blockquote>\n<p>One thing is sure: This saga is far from over.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">.<a href=\"https:\/\/twitter.com\/SebGorka?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">@SebGorka<\/a>: &#8220;Elon Musk has the data on his side, we&#8217;re going to see who wins this arm-wrestling match.&#8221; <a href=\"https:\/\/twitter.com\/MikeCarterTV?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">@MikeCarterTV<\/a><\/p>\n<p>MORE: <a href=\"https:\/\/t.co\/LLpqVxQJPZ\" target=\"_blank\" rel=\"noopener\">https:\/\/t.co\/LLpqVxQJPZ<\/a> <a href=\"https:\/\/t.co\/GyBX2gDbHz\" target=\"_blank\" rel=\"noopener\">pic.twitter.com\/GyBX2gDbHz<\/a><\/p>\n<p>\u2014 Newsmax (@newsmax) <a href=\"https:\/\/twitter.com\/newsmax\/status\/1545893472422477824?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">July 9, 2022<\/a><\/p>\n<\/blockquote>\n<p>If this battle does end up in court, it could be a fierce, ugly fight. Musk has shown an uncanny ability to succeed in almost everything he does, and while legions of Twitter users were thrilled that he was buying the company because they thought he would make it better, that does not appear to be the case at this time. As the saying goes, \u201cmay you live in interesting times.\u201d<\/p>\n<p>We certainly do, and this promises to get more riveting in the near future.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Elon Musk, on Friday, decided to walk away from his $44 billion deal to buy social media giant Twitter, but the story is far from over. Twitter quickly fired back,<\/p>\n","protected":false},"author":1,"featured_media":1547989,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1547856","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1547856","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1547856"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1547856\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1547989"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1547856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1547856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1547856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}