This is not a moral quandary, this is a business transaction. Musk WAIVED Due Diligence, which is the discovery process that would allow him to verify such information. He signed a binding agreement to buy Twitter AS IS. |
Well, he also wants the source code. But no company is going to give that out to a prospective buyer. Putting aside the fact that he waived due diligence!!! |
Well I think the obvious answer is that he doesn’t want to buy a company that lied to the SEC. |
He waived his ability to investigate that when he decided to waive due diligence. |
I haven’t seen the contracts but if there is fraud then it’s void. And I believe lying to the SEC is fraud, and I’m sure there are warranties about those public filings being accurate. Not a business lawyer but this seems fairly straightforward. |
LOL, yes, it’s very clear you are not a business lawyer. |
I know right? I’m not trying to cover for a fraudulent company! |
There is no evidence of fraud. That is pure speculation on Musk’s part. |
He can sue them for damages after he closes the deal and gathers evidence/proves fraud. As of this moment, he has zero evidence of fraud and IS NOT entitled to any additional information from Twitter. Again, he voluntarily waived Due Diligence, even thought to be frank the level of detail he is requesting is proprietary and would not be provided during Due Diligence anyway. |
It’s not idle speculation. Twitter has a record of lying https://mashable.com/article/twitter-miscounted-users |
Then it would have behooved Musk to do Due Diligence. Do you know why he didn't? Because Twitter had no interest of being acquired, he had to make them an offer they could not refuse. |
There’s the very small matter of there being absolutely zero evidence of fraud. Details details. |
They made a mistake that they discovered and admitted over three years ago. If Musk was so concerned about whether the bot estimates in Twitter’s SEC filings were accurate, then he should not have waived due diligence so he would have had the right to evaluate the issue before closing the deal. What Musk is doing is the equivalent of signing a purchase agreement for a house as-is with no inspection, and then trying to get out of the deal because you claim if you brought in an inspector they might find issues under the roof. |
"People are saying there's fraud." -Donald Musk |
Musk has a bigger record of lying. |