Money

Elon Musk accuses Twitter of fraud in updated counterclaim

Published

2 years ago

September 16, 2022

Jamila Jalloh

Tesla CEO claims he should be allowed to exit $44b Twitter takeover deal following whistleblower’s claim of security flaws

Elon Musk has accused Twitter of fraud, claiming they concealed serious data security flaws.

On Thursday, the billionaire’s legal team publicly released updated court filings.

The filings now adopt allegations made by former Twitter head of security, and recent whistleblower.

The whistleblower claims that Twitter’s security of their user’s information are vulnerable.

In the updated counterclaims, Musk’s team allege that this new information has revealed this misrepresentation was part of a larger conspiracy. The document continues to say this was to deceive the public and its investors about the dysfunction at the heart of Twitter.

According to the amended court filing, Musk says these new updates should allow him to put an end to his $44 billion deal to buy the company.

Prior to this update, Musk argued that the reason for him wishing to pull out if the takeover deal was due to the misrepresented number of spam accounts on Twitter.

Twitter on the other hand argued Musk used bots as a scapegoat to get out of the deal after a market decline.

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Why the meme-stock frenzy is unlikely to repeat

Published

1 day ago

May 14, 2024

Nathan Langridge

GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

Money

Why are airlines after the Biden Administration?

Published

1 day ago

May 14, 2024

Nathan Langridge

Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

Money

The mounting pressure on Government spends

Published

2 days ago

May 13, 2024

ticker NEWS

Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending