BillionaireElon Musk’son-again, off-again relationship withTwitterkeeps getting more complicated.
Some legal experts say the social connection may have a strong case against Musk.
The publicly traded company faces pressure from investors to grow its ads business.
Musk marketed himself as a good fit for Twitter.
Now Musk, who also leadsTeslaand SpaceX, feels like having buyer’s remorse.
“It’s a very high hurdle.”
It’s also possible that Musk wins in court and the billionaire walks away without paying the termination fee.
Some legal experts say Musk’s arguments in the letter appear weak.
In Sunday’s letter, Twitter also denied breaching the agreement.
Instead, the process takes months, includes regulatory filings and shareholders have to ultimately approve the agreement.
“And that’s exactly what Twitter did here.”
But legal experts don’t think that’s likely.
I’m sure there are legal/fiduciary reasons you have to say that, Bret.
Hopefully that’s the plan and this is ceremony.
“Twitter has a fiduciary duty to its own shareholders,” Lipton said.
“It can’t just say this is too much trouble.”
