Twitter agreed to a cash sale at $54.20 per share on April 25, 2022. Its announcement valued the deal at approximately $44 billion. That figure described the acquisition of the company, not a fee paid to uncover government misconduct or a budget for the subsequent reporting project. [1]
Musk attempted to terminate the agreement in July, alleging that Twitter had failed to supply adequate information, including information concerning spam and fake accounts. An attempted termination is not proof that the company’s disclosures were fraudulent. [2]
Twitter sought to enforce the agreement. Before the scheduled trial, Musk agreed to proceed on its original terms; the October 27 closing was then recorded in his SEC filing. Separating those steps matters: the purchase was neither a simple overnight decision nor a court verdict establishing Musk’s accusations against Twitter. [3][4]