DIRS.INFO The most relevant business & tech news

☆ Elon Musk claims whistleblower burned 10 notebooks as part of a Twitter order to destroy sensitive information about the company
▼ + stars: | 2022-10-11 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

A whistleblower said he destroyed notebooks and computer files at Twitter's request, per a court filing. Elon Musk requested sanctions against Twitter on October 3, alleging it destroyed evidence. The filing was made public on Monday, but filed the day before Musk made a U-turn on the purchase. Zatko's notes included details from meetings with executives, as well as communications with Twitter CEO Parag Agrawal regarding his concerns over Twitter's security practices, per the court filing. After Zatko's whistleblower complaint became widely reported in August, Musk amended his countersuit against Twitter to include the former security chief's allegations.

☆ The anesthesiologist who is putting you under may work for a private-equity firm
▼ + stars: | 2022-10-10 | by ( Gretchen Morgenson | Gretchen Morgenson Is The Senior Financial Reporter For The Nbc News Investigative Unit. A Former Stockbroker | She Won The Pulitzer Prize In For Her | ) www.nbcnews.com time to read: +12 min

But some physicians and patient advocates say the health care investments of private-equity firms and their drive to reap relatively short-term profits are inconsistent with putting patients first. Independent academic studies find that private equity’s laser focus on profits in health care operations can result in lower staffing levels at hospitals and nursing homes. Neither the FTC nor U.S. Anesthesia Partners responded to voice mails seeking comment; a spokesman for U.S. Anesthesia Partners confirmed the inquiry to the Journal, saying it is cooperating. NBC News asked both of NAPA’s private-equity owners about the disputes involving the company and the research showing higher costs associated with private-equity ownership of anesthesiology practices. Covid was sweeping the country and Moses Taylor was doing its best to respond to the health care crisis, according to its lawsuit.

The deal will move forward if the Delaware court currently hearing Twitter's lawsuit against Musk puts an immediate stop to the case, Musk said in his proposal to Twitter on Monday. Twitter said in a statement: "We received the letter from the Musk parties which they have filed with the SEC. The proposal could end a monthslong saga between the two sides that included a lawsuit scheduled to be argued at trial in a Delaware court month. Unable to address the impasse, Twitter sued Musk in Delaware court — the primary U.S. venue for deciding corporate disputes — on July 12 to enforce the transaction. An additional complexity was added when a whistleblower came forward to accuse Twitter of security lapses — an accusation Musk subsequently sought to include in his evidence against the company.

☆ The PGA Tour Strikes Back With Countersuit Against LIV Golf
▼ + stars: | 2022-09-29 | by ( Andrew Beaton | Louise Radnofsky | ) www.wsj.com time to read: 1 min

The PGA Tour has filed a countersuit against the Saudi-owned LIV Golf circuit, alleging that LIV harmed the Tour by interfering in its deals with golfers. LIV has been pursuing an antitrust claim against the Tour in the U.S. District Court for the Northern District of California since August, arguing that the Tour has acted illegally in suspending LIV players from its events, in an attempt to squash a rival.

☆ Elon Musk's own data scientists couldn't find many bots on Twitter, and he hid that crucial information, the company says
▼ + stars: | 2022-09-27 | by ( Grace Kay | Kali Hays | ) www.businessinsider.com time to read: +4 min

The firm Cyabra told Musk it estimated Twitter to possibly have 11% bots or fake accounts. That's very different from Musk's estimates. "None of these analyses remotely supported what Mr. Musk told the Twitter parties and told the world in the termination letter he served up on July 8." Musk claims this amounts to fraud and allows him to walk away from the acquisition cost-free. Legal experts are unconvinced that any of Musk's claims are strong enough to win this case.

☆ Wisconsin Republican fights off Jan. 6 committee's weekend subpoena to avoid being part of 'a multimedia show': report
▼ + stars: | 2022-09-26 | by ( Warren Rojas | ) www.businessinsider.com time to read: +2 min

Jan. 6 committee investigators subpoenaed Wisconsin speaker Robin Vos over the weekend. Vos fought off testifying in a countersuit denouncing "the Committee's public relations scheme." Investigators want to talk to Vos about an election-related call he had with Trump in July. January 6 committee staff didn't respond to requests for comment about the Vos subpoena. But two of its senior members said over the weekend that they believe Trump was responsible for the deadly siege at the US Capitol.

☆ Twitter is about to get its first chance to question Elon Musk under oath, and it's making a rare move in also deposing his lawyer
▼ + stars: | 2022-09-20 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

It's Twitter's first chance to question Musk under oath regarding his decision to ditch the deal. Most recently, Musk's legal team has amended its countersuit to include an explosive whistleblower complaint from a former Twitter security chief. During the pretrial discovery process, Twitter's lawyers have repeatedly complained of a lack of compliance from Musk and his legal team. Earlier this month, the Delaware judge overseeing the case called Musk's lawyers "suboptimal" in their efforts to produce people with knowledge of the deal. On Tuesday, Musk's legal team brought Twitter cofounder Jack Dorsey in for a deposition over zoom.

☆ Elon Musk accuses Twitter of fraud and says 'he has the full right' to end deal
▼ + stars: | 2022-09-16 | by ( ) www.nbcnews.com time to read: +1 min

— Billionaire Elon Musk accused Twitter of fraud by concealing serious flaws in the social media company’s data security, which the entrepreneur said should allow him to end his $44 billion deal for the company, according to a Thursday court filing. Musk, the world’s richest person, amended his previously filed lawsuit by adopting allegations by a Twitter whistleblower, who told Congress on Tuesday of meddling on the influential social media platform by foreign agents. Musk said the claims by the whistleblower, former head of Twitter security Peiter “Mudge” Zatko, amounted to fraud and breach of contract by Twitter. Musk has asked a Delaware judge to find that he was not obligated to close the deal while Twitter wants the judge to order Musk to buy the company for $54.20 per share. Twitter’s lawyers have said in court that the whistleblower claims that Musk folded into his case were either not grounds for terminating the deal agreement or failed to meet the standard for fraud.

☆ The whistleblower hearing was more of a win for Twitter than Elon Musk in their $44 billion court battle, some experts say
▼ + stars: | 2022-09-15 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

Experts told Insider the Twitter whistleblower's hearing did little to aid Elon Musk's legal case. Musk's legal team has amended its countersuit against Twitter to include Zatko's claims. Another avenue for Musk's team could be if the FTC imposes a fine or revisits its 2011 settlement with Twitter. But, Zatko appeared to have no firsthand knowledge of FTC compliance issues in his testimony, experts said. Zatko has been subpoenaed for the $44 billion court battle between Musk and Twitter.

☆ Twitter whistleblower alleges at least one Chinese spy is at the company
▼ + stars: | 2022-09-13 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Twitter whistleblower Peiter Zatko claims Twitter has at least one Chinese spy at the company. Twitter has said Zatko's complaint is "riddled with inaccuracies." Zatko alleged that the FBI warned Twitter that the company employed a Chinese foreign agent. "Today's hearing only confirms that Mr. Zatko's allegations are riddled with inconsistencies and inaccuracies," a Twitter spokesperson told Insider. "While it was disturbing to hear, I and many others had recognized the state of the environment at Twitter," Zatko said.

☆ Twitter says its multimillion-dollar payout to whistleblower shouldn't affect deal with Elon Musk
▼ + stars: | 2022-09-12 | by ( Arjun Kharpal | Arjun Kharpal Is A News Assistant For Cnbc In London. | ) www.nbcnews.com time to read: +3 min

The social media giant said it intends to enforce the agreement and close the transaction on the price and terms agreed upon with Musk, according to a Securities and Exchange Commission filing. On Friday, Musk’s legal team sent a letter to Twitter, citing another reason to call off the proposed acquisition. Musk’s team alleged that the multimillion-dollar payment Twitter paid to whistleblower Peiter “Mudge” Zatko violated the terms of the deal. Zatko last month alleged “extreme, egregious deficiencies” by the social media company related to privacy, security and content moderation. In Friday’s letter, Musk’s legal team said an alleged $7.75 million severance payment to Zatko from Twitter is another breach of the takeover agreement.

☆ Twitter slams Elon Musk's third attempt to get out of the deal as 'illegal.' Next up, more Musk texts could be made public and the whistleblower will testify.
▼ + stars: | 2022-09-12 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Musk's team argued an alleged $7.75 million severance to the Twitter whistleblower breached the deal. In the letter, Musk's lawyers argued that a recently reported $7.75 million severance payment given to Twitter whistleblower and ex-security chief Peiter Zatko breached the deal. Last week, one of Musk's text messages appeared to cast doubt on the billionaire's reasons for ditching the deal. Twitter's legal team used the tweet to support its argument that Musk is walking away from the deal due to economic concerns. More of Musk's text are expected to be released publicly as soon as Monday.

☆ Delaware court denies Musk request to delay Twitter trial
▼ + stars: | 2022-09-07 | by ( Lauren Feiner | ) www.nbcnews.com time to read: +2 min

A Delaware court denied Elon Musk’s request to delay the trial over his attempt to abandon a $44 billion deal to buy Twitter, according to a new filing released on Wednesday. But the billionaire Tesla CEO will be allowed to add claims from a Twitter whistleblower to his countersuit, Chancellor Kathaleen McCormick ruled. The trial is expected to begin on October 17, earlier than the mid-November date Musk’s team requested in its latest push. “I previously rejected Defendants’ arguments in response to Twitter’s motion to expedite, making clear that the longer the delay until trial, the greater the risk of irreparable harm to Twitter,” McCormick wrote. Musk’s lawyers asked to add claims related to the whistleblower complaint recently made public by Twitter’s former head of security, Peiter “Mudge” Zatko.

☆ Judge calls Elon Musk's legal team's efforts 'suboptimal' and takes a dig at his decision to waive due diligence on Twitter deal
▼ + stars: | 2022-09-07 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

A Judge had some harsh words for Elon Musk's legal team in its court battle with Twitter. Chancery Court Judge Kathleen St. J. McCormick sounded irritated with Musk's team at several points during the hearing. McCormick also called Musk's legal team "suboptimal" in its response to naming the parties involved in the deal. The judge pushed back at multiple claims from Musk's legal team. It wasn't the first time that the judge has had sharp words for Musk's legal team.

☆ Elon Musk takes another loss in Twitter battle as his request to delay trial is denied — but judge says he can add whistleblower allegations to his suit
▼ + stars: | 2022-09-07 | by ( Grace Kay | Kali Hays | ) www.businessinsider.com time to read: +5 min

Twitter has already seen negative effects on its business during the case so far, the judge said. Musk's team cannot do any kind of extensive additional discovery that will delay the case, with the judge only allowing "incremental" and "targeted" requests for more document production from Twitter. She rejected the billionaire's request to delay the trial, his second attempt to do so, reiterating that any further delay poses an outsized risk to Twitter as a business. "I am convinced that even four weeks' delay would risk further harm to Twitter too great to justify." While Zatko's whistleblower claims mainly revolve around security issues at Twitter, Musk seized on them to prove his allegations of fraud.

☆ The CEO of a cannabis company involved in a bitter dispute over a lucrative New York license blasts MedMen and says the feud makes the entire industry look bad
▼ + stars: | 2022-03-14 | by ( Jeremy Berke | Yeji Jesse Lee | ) www.businessinsider.com time to read: +4 min

Ascend Wellness and MedMen are stuck in a heated feud over a lucrative New York cannabis license. Ascend CEO Abner Kurtin said the feud made the whole industry look bad at a critical time. Ascend Wellness CEO Abner Kurtin said the feud had taught New York regulators that cannabis companies couldn't be trusted. Last year, MedMen agreed to sell its New York cannabis retail license to Ascend Wellness Holdings for $73 million. Ascend Wellness HoldingsAscend filed a lawsuit in the state's Supreme Court in January, accusing MedMen of having seller's remorse.

Search resuls for: "Countersuit"

16 mentions found