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TOP Ships Inc. (NASDAQ:TOPS)...

TOP Ships Inc. (NASDAQ:TOPS) inches down in pre trading session on Tuesday as...

Cloudflare (NYSE: NET) Guidance...

Cloudflare (NYSE: NET) inches up in pre trading session on Monday as the...

Lyft Inc. (NASDAQ:LYFT) Fell...

Shares of Lyft Inc. (NASDAQ:LYFT) plunges around 35% in early trading session on...

Affirm Holdings Inc. (NASDAQ:...

Buy-now-pay-later lending firm, Affirm Holdings Inc. (NASDAQ: AFRM) plunges around 20% in pre...
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CEO of Twitter Inc. (NYSE:TWTR) Continues To Fight to Get Out Of Deal; As Shareholder Approve Takeover Proposal

Twitter Inc. (NYSE:TWTR) slightly dropped 0.84% in pre trading session on Wednesday after the Tesla CEO Elon Musk received approval from shareholders on September 13 to purchase the social networking site and take it private, but the transaction might yet fall apart in a court battle this fall.

Shareholders approved Musk’s $44 billion proposal, despite his attempts to back out of the transaction. Twitter has sued Musk for breach of contract, setting up a five-day trial in Delaware Chancery Court on Oct. 17 unless the two parties find a resolution before then.

Musk has questioned the quantity of false accounts on Twitter, stating that the firm was not as forthcoming with the information. According to Twitter, less than 5% of monetizable daily active users were either phony or spam. The business stated that it gave Musk with sufficient data and details to satisfy the criteria of the transaction.

Musk sought to defend his controversial purchase of the social networking business with whistleblower charges. On September 6, Chancellor Kathaleen McCormick of the Delaware Chancery approved his motion.

Chancellor McCormick wrote “Twitter has represented that the anticipated risk of harm has materialized over the course of this litigation. Twitter ‘has suffered increased employee attrition’ which ‘undermines the company’s ability to pursue its operation goals.”

During the hearing, Musk’s request to postpone the October trial was refused. On April 14, he made a takeover attempt for Twitter at $54.20 per share, a 38% premium to the company’s stock price.

Twitter’s board subsequently agreed to implement a poison pill that would allow current shareholders to purchase shares at a discount, but by April 25, the business had changed its mind and accepted Musk’s offer.

Musk was happy with the board’s decision and attempted to seek outside finance for the proposed purchase, as Tesla shares represented the majority of his net wealth.

On May 26, he said that he has closed down his margin loans tied to Tesla Inc. (NASDAQ:TSLA) shares in order to reassure shareholders and investors. Musk has reportedly promised an additional $6.25 billion in stock to fund the transaction.

TOP Ships Inc. (NASDAQ:TOPS) Releases Pricing of $13.6M Registered Direct Offering

TOP Ships Inc. (NASDAQ:TOPS) inches down in pre trading session on Tuesday as the firm releases that it has entered into a securities purchase...

Cloudflare (NYSE: NET) Guidance Exceeded to Wall Street Expectations

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Lyft Inc. (NASDAQ:LYFT) Fell Down To Knees on Lower Forecast and Sacrifice Profit

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Lyft Inc. (NASDAQ:LYFT) Fell Down To Knees on Lower Forecast and Sacrifice Profit

Shares of Lyft Inc. (NASDAQ:LYFT) plunges around 35% in early trading session on Friday following a bleak forecast that fueled fears that the company will have to cut prices and sacrifice profit to avoid finishing second to rival Uber...

Flex (NASDAQ:FLEX) Names one of the World’s Most Admired Companies

Shares of Flex (NASDAQ:FLEX) drops in pre session as fortune magazine named the company one of the World's Most Admired Companies in the Electronics category. Flex CEO Revathi Advaithi stated, "Thank you to our 170,000 team members around the world...

CVS Health Corp (NYSE: CVS) Is Nearing an Agreement to Buy Primary Care Center Operator Oak Street Health Inc.

Oak Street Health, Inc. (NYSE: OSH) announces that the New York Stock Exchange has contacted the Company in response to unusual market activity in the Company's stock, as is customary for the Exchange. According to the company's policy, it...

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