Musk benefited by more than $156 million US from his failure to disclose his increased stake on time, since Twitter's stock price could have been higher had investors known Musk was increasing his holdings, the lawsuit claims. But the lawsuit says Musk did not disclose the stake within the timeframe required by the Securities and Exchange Commission.Īnd the lawsuit says his eventual disclosure of the stake to the SEC was "false and misleading" because he used a form meant for "passive investors" - which Musk at the time was not, because he had been offered a position on Twitter's board and was interested in buying the company. Elon Musk and Twitter agree to pay $1B break fee if takeover deal falls apartīefore announcing his bid to buy Twitter, Musk disclosed in early April that he had bought a nine per cent stake in the company.Elon Musk says he will reverse Twitter's ban on Donald Trump.Twitter's shares closed Thursday at $39.54, 27 per cent below Musk's $54.20 offer price. "In doing so, Musk hoped to drive down Twitter's stock price and then use that as a pretext to attempt to re-negotiate the buyout," according to the lawsuit. In response to the plunging value of Tesla's shares, the Twitter shareholders' lawsuit claims Musk has been denigrating Twitter, violating both the non-disparagement and non-disclosure clauses of his contract with the company.
To fund some of the acquisition, Musk has been selling Tesla stock and shares in the electric carmaker have lost nearly a third of their value since the deal was announced on April 25. View real-time stock prices & the companies financial overview to help with your trading & investment. Twitter has also disclosed its bot estimates to the Securities and Exchange Commission for years, while also cautioning that its estimate might be too low.
The company paid $809.5 million last year to settle claims it was overstating its growth rate and monthly user figures. In addition, the problem of bots and fake accounts on Twitter is nothing new. The newly-expanded Russell US ESG indexes offer an alternative to. was founded in 2006 and is based in San Francisco, California.Duration 4:09 Elon Musk says his planned $44 billion US purchase of Twitter is 'temporarily on hold' pending details on spam and fake accounts on the social media platform, but he is 'still committed to acquisition.' Among institutional investors, Russell US indexes are the leading US equity benchmarks. Natural unity of landmass of Indus Valley Civilisation (Pakistan) served by a single major river valley made Indus Valley Civilisation a contiguous. Further, it offers products for developers and data partners comprising Twitter Developer Platform, a platform that enables developers to build tools for people and businesses using its public application programming interface and paid access to Twitter data for partners with commercial use cases. In addition, the company offers monetization products for creators, including Tips to directly send small one-time payments on Twitter using various payment methods, including bitcoin Super Follows, a paid monthly subscription, which includes bonus content, exclusive previews, and perks as a way to support and connect with creators on Twitter and Ticketed Spaces to support creators on Twitter for their time and effort in hosting, speaking, and moderating the public conversation on Twitter Spaces.
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Use the PitchBook Platform to explore the full profile. Its promoted products consist of promoted ads and Twitter Amplify, Follower Ads, and Twitter takeover. Information on stock, financials, earnings, subsidiaries, investors, and executives for Twitter. It also provides promoted products that enable advertisers to promote brands, products, and services, as well as enable advertisers to target an audience based on various factors, including who an account follows and actions taken on its platform, such as Tweets created and engagement with Tweets. The company's primary product is Twitter, a platform that allows users to consume, create, distribute, and discover content.
operates as a platform for public self-expression and conversation in real-time.
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