Musk said he would proceed with the acquisition at the original price if Twitter halted its legal battle against him. He tried negotiating a discount on the deal price.
Report irvue issues trial#
The court set a five-day trial in mid-October to hear the case.īut facing days of depositions and an uncertain outcome, Mr. The lawsuit ended up in Delaware Chancery Court, which hears many corporate cases. At least one of the executives who was fired was escorted out of Twitter’s office, they said. The Twitter executives who were fired on Thursday include Parag Agrawal, the chief executive Ned Segal, the chief financial officer Vijaya Gadde, the top legal and policy executive and Sean Edgett, the general counsel, said two people with knowledge of the matter. Musk to abide by the agreement.Ī Twitter spokesman did not immediately respond to a request for comment. But, as the global economy faltered in the ensuing months and Twitter’s stock fell, the deal price appeared to be a win for shareholders, and the board sought to force Mr. Musk agreed to pay $54.20 a share for the company in April, Twitter faced criticism for accepting a price that was too low. Musk, who also runs the electric carmaker Tesla and the rocket company SpaceX, did not immediately respond to a request for comment.Ĭompleting the deal was a victory for Twitter’s board. By taking the company private, he does not need to regularly answer to shareholders and can make changes to the service away from the public’s prying eyes. Musk, 51, will be remaking Twitter without having to disclose how it is performing every few months. The firings of the top company executives on Thursday were a sign that Mr. Twitter, which is based in San Francisco and employs more than 7,500 people, has had difficulties consistently growing its advertising-based business and attracting new users. Musk has also promised other sweeping changes at Twitter, including new leadership, job cuts and the pursuit of new ways to make money. “People eventually realize that the Wild West needs a sheriff, both for ensuring the safety of citizens but also for enhancing the prospects for commerce.” “It’s a ‘back-to-the-future’ reversion to content rules circa 2010, but one that ignores the lived experience over the last decade,” said Colin Crowell, Twitter’s former head of global public policy, who left the company in 2019. state-affiliated media.” NPR denounced the move as “unacceptable.”
Senior Lawyer Resigns: Christian Dowell, who had risen to the top of Twitter’s legal department, became the latest in a string of executives to leave the company since Musk took it over.Taking Aim at Substack: After the newsletter service announced that it had built a Twitter competitor, Twitter took steps to block Substack newsletters from circulating on its platform.Changing the Twitter Experience: Nearly six months after buying Twitter, Elon Musk has made tweaks that have altered what people see on the platform and how they interact with it.Twitter said it would prohibit misleading claims about voting and the outcome of elections, but that was before Mr. Early tests will come within days, when Brazil elects its president and American voters go to the polls on Nov.
Musk’s open approach to speech on Twitter could exacerbate long simmering issues of toxic content and misinformation, affecting political debates around the world. Musk, a self-described “free speech absolutist,” has said that he wants to make the social media platform a more freewheeling place for all types of commentary and that he would “ reverse the permanent ban” of former President Donald J. Musk changed his mind about buying the company, sets Twitter on an uncertain course. The closing of the deal, which followed months of drama and legal challenges as Mr. Musk had arrived at Twitter’s San Francisco headquarters on Wednesday and met with engineers and ad executives. He also began cleaning house, with at least four top Twitter executives - including the chief executive and chief financial officer - getting fired on Thursday. Musk closed his $44 billion deal to buy the social media service, said three people with knowledge of the situation.
Report irvue issues full#
After months of waffling, lawsuits, verbal mudslinging and the near miss of a full blown trial, Elon Musk now owns Twitter.
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