RE:Musk to be forced to buy Twitter, not just pay monetary feeTalked to some long time lawyer friends of mine who deal with corporate law and M&A. Over the years they have helped me sort out the complexities of such things and more times than not they get it right.
They also, unlike many lawyers they have the ability to explain the law in terms that someone like myself with kindergarten education can understand them.
Here is their feedback.....
1.....normally in such things the suitor signs an NDA and gets to look at the books in detail to decide whether to buy and if so at what offering price. Musk waived this right which severely weakens his case.
2.....the judge granted 5 days for the trial in a couple of months so she had determined that the case will be decided on very narrow legal grounds. Plus the time frame for the trial does not provide much time for the usual discovery phase of a lawsuit. She probably made this determination since Musk had waived the DD option.
3.....in the TWTR financial statements they talk about the bots but say that they the number could be wrong in a CYA way that is standard in financial statements to protect the company and management.
4....since the case centres around specific performance this limits the scope for judgement where Musk pays a penalty if he loses the case.
Their bottom line?
Musk will lose and be ordered to complete the deal in accordance with his original offer.