Tesla and SpaceX CEO Elon Musk, who earlier this year appeared to be in the final stretch of acquiring Twitter with the intent to take it private and restore free speech, recently backed out of the deal, blaming the social media giant for not being honest about the number of bots that make up its user count.
Twitter disputes Musk’s claims and has already filed suit in the state of Delaware to force Musk to follow through with the $44 billion deal. A CNBC analyst, David Faber, and others, pointed out that if Musk loses in court and still refuses to buy the social media platform, he could theoretically see jail time.
Faber said: “Then the question is: you are forcing Mr. Musk to buy the company, does he actually agree to do it?”
He added: “There is this argument being said lately that, well, maybe he will not comply with that. Then we would have a situation where they could put him in jail.” The assertion caused a chuckle among the rest of the panelists, though Faber insisted that technically speaking, he’s correct.
— Jilianne (@MissJilianne) July 11, 2022
The New York Post recently reported: “Nevertheless, it’s not the first time experts have speculated over the prospect of Musk landing in the slammer over the Twitter mess. In May, Columbia law professor John Coffee told Fox Business News’ Charlie Gasparino that even in a civil suit, Musk could be slapped with contempt of court charges that could lead to jail.”
As far as Musk and his legal camp are concerned, there isn’t much of a concern. Musk has already published several tweets mocking the situation.
But his legal team insists that Musk is on the right side of the law, saying that Twitter misled Musk about the true number of bots that its platform contains. Twitter insisted in SEC paperwork that the number of bots was roughly 5% of the userbase, but Musk and third-party analysts believe the true number is much higher, with some estimates claiming it’s 15% — or more.
Undoubtedly, the Musk vs. Twitter legal battle will draw the eyes of the entire world.