MUSK ENDS TWITTER DEAL (or does he?) | Understanding the Legalities (VL688)

Elon Musk's acquisition of social medial platform Twitter truly felt like it was on wobbly legs even before it began. From hostile boards, to poison pills, deal "holds", to spam accounts allegations -- it just never seemed like it was on sure footing. And today, that footing gave way.

What reasons did Musk give for his withdrawal? What does the Twitter Board have to say? And why is this all so, so likely to end up before a judge?

By the time this ends Tesla's might have ejector seats too...in Virtual Legality.

CHECK OUT THE VIDEO AT: https://youtu.be/seCRQJ3I22k

#elonmusk #twitter #tesla

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CHAPTERS
00:00 Introduction/Background
3:21 That $1B Guarantee
9:22 The Termination Letter
44:25 Twitter Board Threatens Suit (A Look at DE)
48:42 Closing Comments

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Discussed in this episode:

YOUTUBE VIDEOS/PLAYLIST
https://www.youtube.com/playlist?list=PL1zDCgJzZUy_O52bErVCYZfVYMgVgu3nX
https://youtu.be/g3Q7nL4ezzY
https://youtu.be/sw_XU9H9yTg
https://youtu.be/cCT6Sjacem0

TWEETS
https://twitter.com/elonmusk/status/1525049369552048129
https://mobile.twitter.com/disclosetv/status/1545520694955581449
https://twitter.com/btaylor/status/1545526087089696768

MUSK SEC LETTERS (INCLUDING TERMINATION)
https://d18rn0p25nwr6d.cloudfront.net/CIK-0001418091/2fa8a02b-d097-4089-a4bc-f857d7c03916.pdf
https://www.sec.gov/Archives/edgar/data/1418091/000110465922078413/tm2220599d1_ex99-p.htm

MERGER AGREEMENT
https://d18rn0p25nwr6d.cloudfront.net/CIK-0001418091/67572c16-711a-43fd-9488-b75e3f6bc469.pdf

GUARANTEE
https://d18rn0p25nwr6d.cloudfront.net/CIK-0001418091/5f984392-7ed7-47fc-b8fa-e45b596b49cf.pdf

DE COURT EXAMPLE
https://courts.delaware.gov/Opinions/Download.aspx?id=319750

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"Virtual Legality" is a continuing series discussing the law, video games, software, and everything digital, hosted by Richard Hoeg, of the Hoeg Law Business Law Firm (Hoeg Law).

CHECK OUT THE REST OF VIRTUAL LEGALITY HERE:
https://www.youtube.com/playlist?list=PL1zDCgJzZUy9YAU61GoW-00K0TJOGnPCo

DISCUSSION IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT TO BE CONSTRUED AS LEGAL ADVICE. INDIVIDUALS INTERESTED IN THE LEGAL TOPICS DISCUSSED IN THIS VIDEO SHOULD CONSULT WITH THEIR OWN COUNSEL.

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Twitter: @hoeglaw
Web: hoeglaw.com