In the court filings by Musk, he claims the documents and his requests for numbers of actual users to bots was NEVER provided, and as a result claims twatter did not live up to their promises according to the purchase agreement.
So it seems twatter does not want to reveal that they have MORE than 5% BOTS on twatter, as they have previously claimed it was less than 5%, all without providing proof.
Since this is a breach of contract, Musk filed to walk away from the deal.
If it was NOT a breach of contract, then the 1 Billion USD withdraw fee would be inforcable.
But to now have the twatter board trying to FORCE the sale they originally were against (and where one of them could profit $42Million if the deal goes thru) is a joke.
When new broke of the filing by Musk, the value of twatter dropped 5%.
Can’t wait to see if it drops 50% come market open on monday.
Then, if Musk is still considering buying twatter, he and his partners can swoop up as much stock as they can as the rats jump the ship.
If the case goes to court, in discovery twatter MUST reveal the true percentage of BOTs, both current and in the past, that they have on the platform.
Oh look, we have 20% bots, well then the price per share goes down.
I would say, if the original offer was based on 95% real users drops down to 80% users, the price them would be 80/95 = 84% ($54.20 * 84% = $45.64) A drop of about $8.55 per share.
If he does NOT go thru with it, twatters reputation will be in shatters. Their dirty secrets and manipulations will be out in the public, and legislators will see it.
This will only help other platforms as more people flee twatter.
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