Elon Musk Archives - Science and Nerds https://scienceandnerds.com/tag/elon-musk/ My WordPress Blog Wed, 07 Sep 2022 15:10:25 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 203433050 Judge denies Elon Musk’s attempt to delay Twitter trial https://scienceandnerds.com/2022/09/07/judge-denies-elon-musks-attempt-to-delay-twitter-trial/ https://scienceandnerds.com/2022/09/07/judge-denies-elon-musks-attempt-to-delay-twitter-trial/#respond Wed, 07 Sep 2022 15:10:23 +0000 https://scienceandnerds.com/2022/09/07/judge-denies-elon-musks-attempt-to-delay-twitter-trial/ Source: A Delaware court has denied billionaire Elon Musk’s attempt to push back the October trial over his abortive Twitter acquisition, but it agrees that he can incorporate claims made by former Twitter security chief Peiter “Mudge” Zatko into his case. The decision follows a hearing yesterday afternoon that saw Musk’s attorneys argue for a […]

The post Judge denies Elon Musk’s attempt to delay Twitter trial appeared first on Science and Nerds.

]]>
Source: https://www.theverge.com/2022/9/7/23339673/musk-twitter-trial-delay-request-denied-whistleblower-claims-granted


A Delaware court has denied billionaire Elon Musk’s attempt to push back the October trial over his abortive Twitter acquisition, but it agrees that he can incorporate claims made by former Twitter security chief Peiter “Mudge” Zatko into his case.

The decision follows a hearing yesterday afternoon that saw Musk’s attorneys argue for a “meager” few weeks to review new information before the trial’s October 17th start date. Twitter, meanwhile, accused Musk of trying to drag out the trial and “sow chaos” with more document requests — claiming at one point that its lawyers had been forced to pause responding to international law enforcement requests.

Chancellor Kathaleen McCormick said that Musk should be granted wide latitude to amend claims before the trial starts, overruling Twitter’s objections, although she said she was “reticent to say more concerning the merits of the counterclaims” before the litigation. Musk and Twitter will negotiate on “limited” discovery of new documents related to Zatko’s allegations, which include a variety of claims about poor management at Twitter as well as assertions that executives lied about the number of bots on the platform. In a statement, Musk attorney Alex Spiro lauded the decision. “We are hopeful that winning the motion to amend takes us one step closer to the truth coming out in that courtroom,” said Spiro.

However, McCormick said that Twitter would be unduly harmed by a delay in the trial — which Musk had initially pushed to schedule next year. “The company has been forced for months to manage under the constrains of a repudiated merger agreement,” wrote McCormick. “I am convinced that even four weeks’ delay would risk further harm to Twitter too great to justify.”

The ruling is consistent with McCormick’s earlier push for a fast trial, but the decision to allow the whistleblower’s claims strengthens Musk’s case — albeit in ways that aren’t necessarily fatal to Twitter. Musk initially said he suspended the deal because he’d discovered a far larger number of bots on the platform than he expected, but at the trial, he’s likely to argue that Twitter concealed “material adverse effects” potentially beyond the scope of bots, thanks to Zatko’s disclosures.

Meanwhile, Twitter has subpoenaed a wide range of Musk allies and argued that Musk got cold feet that have nothing to do with bots. At the hearing, it pointed to a text message urging his banker to “slow down” the deal for a few days while evaluating a speech by Russian President Vladimir Putin. “It won’t make sense to buy Twitter if we’re heading into World War 3,” Musk said. The two sides will likely continue arguing over exactly what information they’ll need to hand over — but thanks to today’s decision, we won’t be waiting long to see it.

Update 10:45AM ET: Added statement from Musk’s attorney.



Source: https://www.theverge.com/2022/9/7/23339673/musk-twitter-trial-delay-request-denied-whistleblower-claims-granted

The post Judge denies Elon Musk’s attempt to delay Twitter trial appeared first on Science and Nerds.

]]>
https://scienceandnerds.com/2022/09/07/judge-denies-elon-musks-attempt-to-delay-twitter-trial/feed/ 0 13958
Elon Musk subpoenas former Twitter CEO Jack Dorsey https://scienceandnerds.com/2022/08/23/elon-musk-subpoenas-former-twitter-ceo-jack-dorsey/ https://scienceandnerds.com/2022/08/23/elon-musk-subpoenas-former-twitter-ceo-jack-dorsey/#respond Tue, 23 Aug 2022 14:40:54 +0000 https://scienceandnerds.com/2022/08/23/elon-musk-subpoenas-former-twitter-ceo-jack-dorsey/ Source: As Twitter and Elon Musk prepare for their October 17th trial date in the Delaware Court of Chancery to argue over his attempt to break their $44 billion acquisition agreement, Musk’s legal team submitted a subpoena for evidence from a familiar face: former Twitter CEO Jack Dorsey. Dorsey stepped down as Twitter CEO for […]

The post Elon Musk subpoenas former Twitter CEO Jack Dorsey appeared first on Science and Nerds.

]]>
Source: https://www.theverge.com/2022/8/22/23316862/elon-musk-jack-dorsey-twitter-trial-subpoena


As Twitter and Elon Musk prepare for their October 17th trial date in the Delaware Court of Chancery to argue over his attempt to break their $44 billion acquisition agreement, Musk’s legal team submitted a subpoena for evidence from a familiar face: former Twitter CEO Jack Dorsey.

Dorsey stepped down as Twitter CEO for the second time last November and handed control of the company he helped create to Parag Agrawal. He’s running Square and Block and, reportedly, egging on Musk’s attempt to buy Twitter in private messages.

It’s tough to say what information Dorsey has that Musk couldn’t obtain by just texting him! But with billions of dollars on the line, Musk’s legal team is casting out all lines to support his (weak) argument the company is not telling the truth about measurements of bots and spam among the daily active users on its platform. The subpoena lists what information Dorsey is being asked for:

1. Documents and Communications regarding the Merger and the transaction contemplated by the Merger, the Merger Agreement, any potential acquisition or transaction between Defendants and Twitter, Defendants’ potential or actual acquisition of shares of Twitter common stock, Defendants’ potential membership on the Twitter Board, and Documents and Communications otherwise regarding Twitter and any of Defendants.

2. Documents and Communications reflecting, referring to, or relating to the impact or effect of false or spam accounts on Twitter’s business and operations.

3. Documents and Communications reflecting, referring to, or relating to Twitter’s use of mDAU as a “Key Metric,” as noted in Twitter’s SEC filings, including Documents and Communications reflecting, referring to, or relating to the relationship between mDAU and Twitter’s present or future revenue or EBITDA.

4. Documents and Communications reflecting, referring to, or relating to Twitter’s use of any other user metric other than mDAU, including but not limited to, daily active users, monthly active users, daily user engagement, monthly user engagement, or advertisement engagements.

5. Documents and Communications describing any process or workflow, other than the mDAU Audit and the suspension workflow, that Twitter uses, has used, or has discussed or considered using to detect and label accounts as spam or false.

6. Documents reflecting business plans or analyses for achieving mDAU targets.

7. Documents and Communications relating to incorporating mDAU into executive or director compensation, including but not limited to any annual compensation targets, bonus pools, incentive plans, or performance-based restricted stock units.

A recent ruling by Judge Kathaleen McCormick also gave Musk’s team access to information from the former Twitter head of product Kayvon Beykpour, and in a separate filing today, Musk’s team subpoenaed the other Twitter exec Agrawal fired on the same day as Beykpour, Bruce Falck.



Source: https://www.theverge.com/2022/8/22/23316862/elon-musk-jack-dorsey-twitter-trial-subpoena

The post Elon Musk subpoenas former Twitter CEO Jack Dorsey appeared first on Science and Nerds.

]]>
https://scienceandnerds.com/2022/08/23/elon-musk-subpoenas-former-twitter-ceo-jack-dorsey/feed/ 0 12927
Elon Musk changes plans, sells $6.9 billion in Tesla shares with Twitter trial looming https://scienceandnerds.com/2022/08/10/elon-musk-changes-plans-sells-6-9-billion-in-tesla-shares-with-twitter-trial-looming/ https://scienceandnerds.com/2022/08/10/elon-musk-changes-plans-sells-6-9-billion-in-tesla-shares-with-twitter-trial-looming/#respond Wed, 10 Aug 2022 14:38:11 +0000 https://scienceandnerds.com/2022/08/10/elon-musk-changes-plans-sells-6-9-billion-in-tesla-shares-with-twitter-trial-looming/ Source: With so much of the world’s richest man’s wealth tied up in shares of his electric car company, Tesla is a part of the deal Elon doesn’t want to do anymore for more reasons than just a few subpoenas. Six SEC filings (1, 2, 3, 4, 5, 6) revealed Elon Musk sold more Tesla […]

The post Elon Musk changes plans, sells $6.9 billion in Tesla shares with Twitter trial looming appeared first on Science and Nerds.

]]>
Source: https://www.theverge.com/2022/8/9/23299343/elon-musk-tesla-stock-sells-twitter-trial


With so much of the world’s richest man’s wealth tied up in shares of his electric car company, Tesla is a part of the deal Elon doesn’t want to do anymore for more reasons than just a few subpoenas. Six SEC filings (1, 2, 3, 4, 5, 6) revealed Elon Musk sold more Tesla shares over the last few days, which is surprising given Musk’s tweet saying, “No further TSLA sales planned after today,” after he sold off $8.4 billion worth in April.

Tesla investor Sawyer Merritt tweeted a count of Musk’s activity between August 5th and August 9th, showing he sold 7,924,107 shares worth about $6.9 billion. Just before 11PM ET, Elon responded on Twitter, citing the looming trial against Twitter as an explanation for the new plan.

Musk sold those shares earlier this year to help finance the acquisition of Twitter, and now that he’s trying to exit the arrangement, they’re going to battle it out in a Delaware courtroom starting on October 17th. Twitter CEO Parag Agrawal isn’t taking the bait on Elon’s challenge for a public debate, plus there’s no word of any pending settlement. Musk now says he has a reason to prepare for “the (hopefully unlikely) event that Twitter forces this deal to close *and* some equity partners don’t come through.” If that happens, Musk said, he’s trying to avoid an emergency sale of Tesla stock.

Exactly how investors will react to word that Musk is done selling (again) is unknown; however, the price of Tesla shares stayed flat at around $850 in after-hours trading. Wedbush analyst Dan Ives tweets, “Musk selling TSLA stock after he said no more sales will lead the Street to focus on chances of Twitter deal happening and Musk preparing cash portion … This stock sale will raise a lot of conversation on Street for bulls/bears in the morning.”



Source: https://www.theverge.com/2022/8/9/23299343/elon-musk-tesla-stock-sells-twitter-trial

The post Elon Musk changes plans, sells $6.9 billion in Tesla shares with Twitter trial looming appeared first on Science and Nerds.

]]>
https://scienceandnerds.com/2022/08/10/elon-musk-changes-plans-sells-6-9-billion-in-tesla-shares-with-twitter-trial-looming/feed/ 0 11999