Elon Musk's Twitter takeover isn’t new news, yet it seems to perpetually be in the news. In this episode, we are joined by former litigator and Professor of Law at the University of Houston Law School, Robert Ragazzo to talk about the legal aspects of Elon Musk’s Twitter acquisition. Bob is somewhat of an expert on how it’s all unfolding and today, we hear his insights on the evolution of Twitter, why Elon Musk decided to buy it, and how the acquisition played out. We discuss the SEC’s role (or lack thereof) and the shareholders’ attempt to take matters into their own hands. Bob explains Musk’s airtight merger agreement and the consequences thereof and shares his opinion on how Musk has been running Twitter since the takeover. Tune in to hear the ins and outs of the legal proceedings following Musk’s merger, as well as our speculations on the future of Twitter.
Key Points From This Episode:
- Introducing Robert Ragazzo, a former litigator and current Professor of Law at the University of Houston Law School.
- Today’s topic: Elon Musk’s acquisition of Twitter and his subsequent business practices.
- How Twitter has evolved over the past decade.
- Why Elon Musk bought Twitter and how the acquisition played out.
- How Musk violated the SEC filing rules and why the SEC didn’t act on his violation.
- Insight into Twitter shareholders’ attempt to sue Musk.
- Obstacles to private rights of action within the Securities Exchange Act.
- Twitter’s inability to identify and calculate spam accounts.
- Elon Musk’s merger agreement and the consequence thereof in front of the Delaware Court of Chancery.
- An example of another ‘material adverse impact’ case and how it compares to Musk’s case.
- Robert’s thoughts on how Musk has been running Twitter.
- The questionable way in which Musk laid off Twitter employees.
- The multitude of people Musk has offended thus far.
- Why it’s a problem that Musk didn’t buy Twitter as a business investment.
- Speculation on the future of Twitter.
Links Mentioned in Today’s Episode:
Robert Ragazzo
Fordham University School of Law Corporate Law Center
“Extremely Hardcore” from New York Magazine
