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Anybody else get back on twitter now that the rich man-baby is exiting stage -- good riddance? (Original Post) Comfortably_Numb Jul 2022 OP
It's not over. Twitter is suing Musk for breach of contract, Ocelot II Jul 2022 #1
Good point, and spot on. I'll bail again if he ends up owning it. Comfortably_Numb Jul 2022 #2
Fatfuck von ToiletTweeter is lurking in the shadows Blue Owl Jul 2022 #3
you have a way with... sprinkleeninow Jul 2022 #18
Generally, if you can provide an appropriate remedy by throwing money at it, Ms. Toad Jul 2022 #7
Generally, yes, but this contract has a specific performance clause. Ocelot II Jul 2022 #19
I know why they want to enforce it Ms. Toad Jul 2022 #22
I don't want him to buy it; I hope he has to pay through the nose Ocelot II Jul 2022 #23
Agreed as to what will probalby happen. n/t Ms. Toad Jul 2022 #24
Can't he just pay the billion or whatever that was to get out of it ? JI7 Jul 2022 #8
That's what I heard. n/t area51 Jul 2022 #14
no moonshinegnomie Jul 2022 #17
Could it be that Musk is complaining about wnylib Jul 2022 #16
Never used it, FoxNewsSucks Jul 2022 #4
twitter is swamped with trump propaganda even tho he is technically banned nt msongs Jul 2022 #5
Disagree - Twitter is about who you choose to follow womanofthehills Jul 2022 #12
I didn't leave. TDale313 Jul 2022 #6
But should a Saudi prince own part of Twitter? womanofthehills Jul 2022 #15
I blocked him a few weeks back and forgot he even Dr. Shepper Jul 2022 #9
the contract he signed includes a specific performance clause moonshinegnomie Jul 2022 #10
This Shareholder feels like we do.. Cha Jul 2022 #11
Not yet. I got booted for calling Jason Aldean a dumb redneck edbermac Jul 2022 #13
My Twitter timeline has, just this morning, Dave says Jul 2022 #20
Never was on Twitter in the first place. Pete Ross Junior Jul 2022 #21

Ocelot II

(115,280 posts)
1. It's not over. Twitter is suing Musk for breach of contract,
Fri Jul 8, 2022, 11:21 PM
Jul 2022

and the remedy could be specific performance - that is, the court enforces the contract and orders Musk to buy Twitter as agreed.

Ms. Toad

(33,915 posts)
7. Generally, if you can provide an appropriate remedy by throwing money at it,
Sat Jul 9, 2022, 12:09 AM
Jul 2022

the non-breaching party is not entitled to specific performance.

Ocelot II

(115,280 posts)
19. Generally, yes, but this contract has a specific performance clause.
Sat Jul 9, 2022, 09:36 AM
Jul 2022

So Musk might find himself on the hook to buy the company at the agreed-upon price, even though it isn't worth as much as it was when they made the deal - in part because of Musk's own fuckery. That's why Twitter will want to enforce the contract.

Ms. Toad

(33,915 posts)
22. I know why they want to enforce it
Sat Jul 9, 2022, 01:02 PM
Jul 2022

But liquidated damages clauses are generally monetary, not an obligation to perform what the contract required them to do in the first place. To be enforceable, the remedy has to be a reasonable estimate, at the time the parties entered into the contract for the damages (difficult to ascertain at the time of contracting). Specific performance isn't an estimate of the damages.

The decision about specific performance iwill be left to the curt as an equitable remedy if no amount of money would be adequate to compensate the injured party. Seems to me that it is relatively easy to calculate Twitter's loss from the agreed upon price compared to the current price. Twitter keeps its company at a lower value; Musk pays a hefty price for breaching the contract.

Ocelot II

(115,280 posts)
23. I don't want him to buy it; I hope he has to pay through the nose
Sat Jul 9, 2022, 04:28 PM
Jul 2022

to get out of the contract, and that’s probably what will happen.

JI7

(89,180 posts)
8. Can't he just pay the billion or whatever that was to get out of it ?
Sat Jul 9, 2022, 12:09 AM
Jul 2022

Wasn't that part of the "deal" ? That if he backed out he would pay a billion .

moonshinegnomie

(2,410 posts)
17. no
Sat Jul 9, 2022, 01:58 AM
Jul 2022

the 1B is if a 3rd party were to block the deal
the contract has a specific performance clause that can force must to buy them comany even if he doesnt want to any more

https://www.sec.gov/Archives/edgar/data/1418091/000119312522120474/d310843ddefa14a.htm

wnylib

(21,146 posts)
16. Could it be that Musk is complaining about
Sat Jul 9, 2022, 01:46 AM
Jul 2022

the number of fake accounts as a means of bringing down the price? He claims that Twitter did not live up to its part of the bargain so he does not have to live up to his original offer?


TDale313

(7,820 posts)
6. I didn't leave.
Sat Jul 9, 2022, 12:05 AM
Jul 2022

I would have if it became clear the deal was actually going to go through. But it started feeling unlikely within a couple days. I am glad it fell through. He should not own Twitter.

moonshinegnomie

(2,410 posts)
10. the contract he signed includes a specific performance clause
Sat Jul 9, 2022, 01:05 AM
Jul 2022

it basically says Twitter can force musk to buy them. there is precedence for this in the past in other mergers.

Cha

(295,925 posts)
11. This Shareholder feels like we do..
Sat Jul 9, 2022, 01:11 AM
Jul 2022


I never left... I stayed to fight like George Takei.

Please Fight to Save Our Democracy💙 in 2022 & 2024!

edbermac

(15,919 posts)
13. Not yet. I got booted for calling Jason Aldean a dumb redneck
Sat Jul 9, 2022, 01:29 AM
Jul 2022

I guess that’s the Twitter equivalent of the N-word

Dave says

(4,608 posts)
20. My Twitter timeline has, just this morning,
Sat Jul 9, 2022, 10:13 AM
Jul 2022

Turned in to a MAGA cesspool. Normally it’s populated with art and left-wing politics. Now it’s ‘Biden is dirt’ and stories about women claiming they should have the right to claim a zygote on their taxes (given the absurdity of the SCOTUS Roe decision, they should).

Something is newly amiss over there.

Pete Ross Junior

(404 posts)
21. Never was on Twitter in the first place.
Sat Jul 9, 2022, 10:16 AM
Jul 2022

I speculate the rich man baby is quietly shorting Twitter using an intermediary.

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