Elon Musk could go to jail and lose Tesla
- July 31, 2022
- 0
Robert Miller, a law professor with extensive experience in mergers and acquisitions and related laws, believes the businessman is taking risks. not abide by the agreement. In the
Robert Miller, a law professor with extensive experience in mergers and acquisitions and related laws, believes the businessman is taking risks. not abide by the agreement.
In the lawsuit, which will begin on October 17, Twitter said South Africa “committed to closing the merger at the agreed price and terms”.
According to Miller, at the hearing Musk gave a special performancein case of breach of contract.
The lawyer noted that the court’s powers ranged from formally “insulting” Musk to taking control of shares of Tesla, the electric car company in which most of his fortune is located.
He also noted that the court could order Musk to buy Twitter for $44 billion or other approved amount, and he may also have to pay an additional fine to the social network.
He also noted that the court could add Musk’s stake in Tesla to secure payment.
Last year, TransPerfect, a translation company that sued over an acquisition, was fined $30,000 a day until it complied with a court order.
Miller noted that a potential fine of up to tens of millions of dollars a day can be expected in the Musk case.
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Source: El Nacional
Alice Smith is a seasoned journalist and writer for Div Bracket. She has a keen sense of what’s important and is always on top of the latest trends. Alice provides in-depth coverage of the most talked-about news stories, delivering insightful and thought-provoking articles that keep her readers informed and engaged.
