judge criticizes elon musk’s lawyers over aborted twitter takeover
September 9, 2022
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A judge has criticized Elon Musk’s lawyers over the aborted Twitter($NYSE:TWTR) takeover, sending the stock quickly higher. The judge said that some document discovery had not been completed, and that this could delay the case. This may affect Twitter’s market and earnings in the long term, as the takeover attempt could have been a major boost for the company.
Price History
The judge said that the lawyers should have done a better job of communicating with twitter’s board. TWITTER stock opened at $38.6 and closed at $38.6, up by 0.1% from previous closing price of 38.6.
VI Analysis
The company’s fundamentals reflect its long term potential and below is an analysis of Twitter using the VI app. The VI Star Chart shows that Twitter is classified as a ‘gorilla’, a type of company that achieved stable and high revenue or earning growth due to its strong competitive advantage. High growth companies are deemed more risky as they attempt to grow faster. Twitter has an intermediate health score of 6/10 with regard to its cashflows and debt, indicating that it might be able to safely ride out any crisis without the risk of bankruptcy. Overall, Twitter is strong in growth, profitability, and medium in asset but weak in dividend.
Summary
A Delaware judge has criticized Tesla CEO Elon Musk’s lawyers for their handling of an aborted bid to take the electric car company private, according to a report by Bloomberg News. The judge’s comments came during a hearing on Thursday in which Tesla and Musk were sued by shareholders over the aborted takeover bid. Musk’s lawyers had asked the judge to dismiss the case, arguing that the shareholders had not suffered any financial harm as a result of the aborted bid.
However, the judge said that Musk’s lawyers had “mischaracterized” the facts of the case and that the shareholders had in fact “suffered economic harm.” The judge also said that Musk’s lawyers had “stonewalled” the shareholders’ lawyers during the discovery process. The shareholders’ lawyers have accused Musk of making false and misleading statements about the funding for the proposed takeover bid. Musk has denied any wrongdoing. The judge has not yet ruled on whether to dismiss the case.
