Court Date Set for Twitter's Legal Showdown With Elon Musk
Video Credit: Wibbitz Top Stories - Duration: 01:31s - Published
Court Date Set for Twitter's Legal Showdown With Elon Musk
Court Date, Set for Twitter's
Legal Showdown , With Elon Musk.
Quartz reports that Twitter has recorded its first win in a legal showdown with billionaire Elon Musk.
The two parties are headed to a Delaware court to settle their $44 billion deal to sell the social media outlet to Musk, the CEO of SpaceX and Tesla.
.
The two parties are headed to a Delaware court to settle their $44 billion deal to sell the social media outlet to Musk, the CEO of SpaceX and Tesla.
.
On July 19, Delaware chancellor
Kathleen St.
Jude McCormick ruled
that the case will be heard in October.
According to Quartz, the five-day trial's starting date
seems to favor Twitter's motion for an expedited
trial over Musk's request for a 2023 start date.
According to Quartz, the five-day trial's starting date
seems to favor Twitter's motion for an expedited
trial over Musk's request for a 2023 start date.
In seeking an expedited trial, Twitter cited falling
user numbers, declining advertisers and employees
leaving the company due to the deal being held in limbo.
In seeking an expedited trial, Twitter cited falling
user numbers, declining advertisers and employees
leaving the company due to the deal being held in limbo.
Musk requested a later start date due to a "complex, technical discovery" needed to determine if Twitter falsified user data filings with the U.S. Securities and Exchange Commission (SEC).
Musk requested a later start date due to a "complex, technical discovery" needed to determine if Twitter falsified user data filings with the U.S. Securities and Exchange Commission (SEC).
Quartz reports that Twitter is suing
to force Musk to complete his $44 billion
takeover of the social media platform.
.
Since signing the deal, Musk has accused
Twitter of lying in its SEC filings regarding the
portion of its monetizable active daily users.
.
Monetizable active daily users (mDAU) are nonhuman accounts that include bots and spam.
In a Zoom court hearing, lawyers representing Twitter called Musk's claims meritless and a stalling tactic to buy time to "wriggle out" of the deal.
Tesla and Space X CEO Elon Musk's tweet from January has caught the attention of the US, possibly paving the way for India to get a permanent seat at the UNSC... IndiaTimes
Elon Musk isn't just building cars -- he seems to be in the submarine business too ... that's what this video of a Tesla driving through several feet of water.. TMZ.com
Elon Musk shakes up social media with X's new policy: new users must pay to write posts and reply. Musk aims to combat bots and improve platform quality. Stay updated on the latest tech news and developments. Subscribe now!
#XPosts #XPlatform #Twitter #PaidPostsonX #ElonMusk #ElonMuskNews #EleonMuskX #XUsers #XFeatures #Oneindia
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These US Cities, Have the Highest Populations of, Millionaires.
According to a report by Henley & Partners,
the United States remains the top country in the
world for private wealth creation and accumulation.
Quartz reports that the U.S. accounts
for about 32% of global liquid investable
wealth, valued at approximately $67 trillion.
Here are some of the cities
with the largest populations of
millionaires, according to the report.
Austin, This Texas city had the biggest explosion
in millionaire growth in the U.S. over the past
ten years, reaching 32,700 by the end of 2023. .
Miami, This Florida city is home to
35,300 millionaires and 15 billionaires,
including Amazon CEO Jeff Bezos.
Boston, While having just eight billionaires,
the fewest of any other city on the list,
this New England city is home to , 42,900 millionaires.
Seattle, This Washington State city is the home of
some of the largest corporations in the U.S.,
including Amazon and Microsoft. It's also
home to 54,200 millionaires and 11 billionaires. .
Chicago, Approximately 120,500 millionaires
live in this Midwestern metropolis. .
Los Angeles, The second-most populous city in the U.S. has about, 212,100 millionaires and 43 billionaires.
San Francisco, The tech hub of the U.S. boasts the most
billionaires with a whopping 68, as well as
the second-most millionaires with 305,700. .
New York, The city with the most high
net worth individuals has about , 349,500 millionaires
and 60 billionaires
Credit: Wibbitz Top Stories Duration: 01:31Published
6 Tips, for First-Time Investors.
1. Do not put all your
money into one company.
Just because Tesla leads the electric car market
right now, it does not mean it will be this way forever.
2. Avoid paying too much attention
to pundits on television.
Wells Fargo Adviser Scott Pedvis says a big
mistake is taking what others say "as gospel.".
3. Start as early as you can.
The earlier you begin, the more
time investments have to develop.
4. Enroll in a 401k plan
at your job, if possible.
A 401k is an excellent way to store money for when you eventually retire.
5. Do not be afraid
to ask for help.
A lot of investing can be done independently,
but not everything in your life can be do-it-yourself, Scott Pedvis, via 'USA Today'.
6. Put money into your investments on
a predetermined date each month.
It forces you to save,
and takes the emotion
out of investing, Scott Pedvis, via 'USA Today'
Credit: Wibbitz Top Stories Duration: 01:30Published
Tesla to Lay Off , Over 10% of Global Workforce.
In a memo obtained by Electrek, CEO
Elon Musk announced that at least 14,000 roles will be cut, 'The Guardian' reports. .
In a memo obtained by Electrek, CEO
Elon Musk announced that at least 14,000 roles will be cut, 'The Guardian' reports. .
Musk attributed some of the layoffs to
the fact that there had "been duplication
of roles and job functions in certain areas" amid periods of rapid growth.
Musk attributed some of the layoffs to
the fact that there had "been duplication
of roles and job functions in certain areas" amid periods of rapid growth.
As we prepare the company for our
next phase of growth, it is extremely
important to look at every aspect of
the company for cost reductions
and increasing productivity, Elon Musk, via internal memo.
As part of this effort, we have
done a thorough review of the
organization and made the difficult
decision to reduce our headcount
by more than 10% globally, Elon Musk, via internal memo.
There is nothing I hate more, but it
must be done. This will enable us
to be lean, innovative and hungry
for the next growth phase cycle, Elon Musk, via internal memo.
I would like to thank everyone
who is departing Tesla for their
hard work over the years, Elon Musk, via internal memo.
As of December 2023,
Tesla employed 140,473 people. .
Company shares dropped by over 1%
in premarket trading on April 15. .
Meanwhile, it was also reported on April 15 that BP is laying off over a tenth of its Pulse unit which deals with electric vehicle charging.
Credit: Wibbitz Top Stories Duration: 01:31Published
SpaceX's Third Test of Its , Starship Succeeds Ahead, of Crewed Lunar Mission.
'The Independent' reports that SpaceX's third test of its
Starship has ended successfully, with the spacecraft
falling to Earth somewhere in the Indian ocean. .
The successful test follows two
failed tests which lasted only a few
moments before ultimately exploding.
The third test saw the Starship successfully launch,
separate from its booster, arrive in space, open its
payload door and then fly halfway around the Earth.
This means that the test successfully
accomplished all of the major tests
SpaceX had laid out prior to launch.
Starship is the largest and most
powerful rocket ever built, with
a towering height of 397 feet. .
CEO Elon Musk said prior to launch that the
company had made thousands of upgrades and
fixes to improve the chances of a successful test.
CEO Elon Musk said prior to launch that the
company had made thousands of upgrades and
fixes to improve the chances of a successful test.
The spacecraft launched from
the southern tip of Texas
near the Mexican border. .
The spacecraft launched from
the southern tip of Texas
near the Mexican border. .
The test flight outperformed previous
tests, reaching an altitude of 100
miles and nearing orbital speed.
'The Independent' reports that NASA is heavily invested in
the success of Starship, as the spacecraft plays an integral
role in the agency's plan to return astronauts to the moon.
The highly anticipated missions will
mark the first crewed missions to the
moon since last century's Apollo program.
Credit: Wibbitz Top Stories Duration: 01:30Published
Trump’s Social Media Company , Sues Co-Founders.
Trump Media & Technology Group filed a
lawsuit against co-founders Wesley Moss and Andrew Litinsky on March 24, ABC News reports.
The suit came two days before shareholders approved a merger that allowed the
company to begin trading on the Nasdaq.
The lawsuit alleges that the two men
"failed spectacularly" to lead the company and made "reckless and wasteful decisions"
that resulted in "significant damage.".
Trump Media wants the co-founders to give up
their shares of the company, among other things. .
TMTG has been forced to file this action
to remedy the harm inflicted upon it by two
faithless fiduciaries and a company they own --
Wesley Moss, Andrew Litinsky, and
[United Atlantic Ventures] -- and to halt their
ongoing attempts to do even more damage, Via lawsuit.
Moss and Litinsky's company,
United Atlantic Ventures, owns 5.5%
of Trump Media, according to the SEC.
That amounts to 7,525,000 shares
which are worth about $388 million.
Donald Trump's stake in the company
is currently valued at over $4 billion.
Since going public last week,
the stock has been very volatile. .
At one time, shares peaked over $79.
On April 1, they plunged by 21%.
Shares recovered slightly on April 2
Credit: Wibbitz Top Stories Duration: 01:30Published
SEC Permitted to Sue Coinbase , for Offering Unregistered Securities.
U.S. District Judge Katherine Polk Failla
has ruled that the Securities and Exchange Commission's (SEC) lawsuit against Coinbase
can proceed, The Verge reports. .
The SEC has sufficiently pleaded
that Coinbase operates as an exchange,
as a broker, and as a clearing agency
under the federal securities laws, , U.S. District Judge Katherine Polk Failla, via ruling.
... and, through its Staking Program,
engages in the unregistered
offer and sale of securities, U.S. District Judge Katherine Polk Failla, via ruling.
The judge rejected arguments that existing laws are inadequate when it comes to crypto. .
The judge rejected arguments that existing laws are inadequate when it comes to crypto. .
The ‘crypto’ nomenclature may be
of recent vintage, but the challenged
transactions fall comfortably within the
framework that courts have used to identify
securities for nearly eighty years, U.S. District Judge Katherine Polk Failla, via ruling.
Coinbase chief legal officer Paul Grewal
took to X to respond to the ruling. .
Coinbase chief legal officer Paul Grewal
took to X to respond to the ruling. .
Early motions like ours
against a government agency
are almost always denied. , Paul Grewal, Coinbase chief legal officer, via X.
But clarity is the ultimate
goal and today’s decision
continues us on that path, Paul Grewal, Coinbase chief legal officer, via X.
Looking ahead, we remain confident
in our legal arguments, we look
forward to proving we’re right, , Paul Grewal, Coinbase chief legal officer, via X.
... we are eager for the opportunity to
take discovery from the SEC for the first
time, and we appreciate the Court’s
continued consideration of our case. , Paul Grewal, Coinbase chief legal officer, via X
Credit: Wibbitz Top Stories Duration: 01:31Published
SEC's New , Climate Disclosure Rules , Facing Multiple Lawsuits.
'Newsweek' reports that both industry and
environmental groups have legally challenged the
Securities and Exchange Commission over new rules. .
The new rules require some businesses to disclose
information about climate risks, including direct
greenhouse gas emissions and risks from extreme weather.
The SEC rules, which were approved on March 6 by a 3-2 vote,
also require companies to provide investors with context
on how those companies plan on managing those risks.
Some requirements were pared back prior to the rules
being approved. Those rules include reporting on Scope 3
emissions which relate to the company's supply chain.
In response to the new rules, two fossil fuel producing
companies filed lawsuits accusing the SEC of burdening
companies and exposing them to potential litigation.
19 state attorney generals have also
filed lawsuits claiming that the new rules
exceed the SEC's legal authority.
On the other side, environmental groups the Sierra Club
Foundation and Earthjustice announced their own lawsuits
accusing the SEC of watering down rules to protect investors.
Sierra Club has millions of members
and supporters who have investments
in the market. It's really critical that
we have access to information about
climate risks that may be faced
by the kinds of entities that
we would hope to invest in, Andres Restrepo, Sierra Club Senior Attorney, via Newsweek.
'Newsweek' reports that the SEC rules were
meant to take effect in 2026, however, the
legal challenges are likely to result in delays.
The new rules come as the U.S. Supreme Court
has indicated plans to restrict the regulatory
authority of environmental enforcement agencies.
Credit: Wibbitz Top Stories Duration: 01:31Published
Bitcoin Rallies, on Hopes of Renewed Interest , Among Mainstream Investors.
On March 4, the price of Bitcoin broke $65,000,
bringing it closer to returning to an all-time
high reached in November 2021.
NBC reports that the latest rally has been driven
by hopes that the launch of bitcoin exchange-
traded funds will expand bitcoin's pool of buyers. .
In 2024, the cryptocurrency has
gained over 48%, rapidly approaching its
record intra-day all-time high of over $68,000.
In January, Bitcoin ETFs were first approved by
the Securities and Exchange Commission (SEC). .
The SEC said the approval of the ETFs were meant
to make it easier for investors to gain exposure to
Bitcoin without having to actually own the digital coins.
NBC reports that the world of crypto is also banking
on a potential rally following a technical event
known as "halving" scheduled to occur in April.
This event will see the rate of supply for new bitcoin
to decline, which could cause the value of the
cryptocurrency to increase if demand remains unchanged.
Some mainstream investment experts have
still urged caution when it comes to investing
in the controversial cryptocurrency.
With equities, you own a share
of a company that produces goods
or services, and many also pay
dividends. With bonds, you get
a stream of interest payments, Vanguard statement, via NBC.
Commodities are real assets that meet
consumption needs, have inflation-
hedging properties, and can play
a role in certain portfolios, Vanguard statement, via NBC.
While crypto has been classified
as a commodity, it’s an immature
asset class that has little history,
no inherent economic value,
no cash flow, and can create
havoc within a portfolio, Vanguard statement, via NBC
Credit: Wibbitz Top Stories Duration: 01:32Published
On Friday, Elon Musk countersued Twitter Inc, The move comes amid the tech mogul’s legal fight against the social media company over his bid to walk away from the $44 billion purchase.
#ElonMusk..
Twitter Blames Elon Musk , for Its Revenue Slide .
'The Guardian' reports that Twitter has blamed
Elon Musk for a drop in revenue spurred
by the billionaire's chaotic takeover bid.
'The Guardian'..
Credit: Wibbitz Top Stories Duration: 01:31Published
Twitter Sues Elon Musk , To Make Him Complete Acquisition of Company.
CNN reports that the lawsuit was filed in the Delaware Court of Chancery on July 12.
In a letter delivered to Twitter's attorneys..
Credit: Wibbitz Top Stories Duration: 01:31Published
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