Lawyer Monthly - August 2022

MONTHLY ROUND-UP On 18 July, Twitter Inc accused Tesla CEO Elon Musk of attempting to “slow walk” the social media giant’s lawsuit to hold him to his $44 billion takeover. Twitter has pushed for a trial to take place in September to ensure deal financing remains in place. Mars Inc, which owns Skittles, has been sued by a consumer who claims that the sweets are unsafe to eat because they contain a known toxin that the company had pledged to phase out six years ago. ELONMUSK IS “SLOW-WALKING” TRIAL OVER $44BILLIONTAKEOVER DEAL, TWITTER SAYS SKITTLES CONTAIN DANGEROUS TOXIN, SAYS US LAWSUIT “Millions of Twitter shares trade daily under a cloud of Muskcreated doubt,” Twitter said. “No public company of this size and scale has ever had to bear these uncertainties.” Twitter is suing Musk over his attempt to abandon his $44 billion takeover deal. Twitter has asked a Delaware judge to order Musk to complete the deal at the agreed price of $54.20 per share. Twitter has said that if Musk In a proposed class action, plaintiff Jenile Thames accused Mars of putting consumers at risk by using “heightened levels” of titanium dioxide (TiO2) as a food additive. The lawsuit also highlighted that the European Union is set to ban titanium dioxide next month after a food safety regulator there deemed it unsafe due to “genotoxicity”. “A reasonable consumer would expect that [Skittles] can be safely purchased and consumed as marketed and sold,” the complaint said. “However, the products are not safe.” The lawsuit is seeking unspecified damages for fraud and violations of California consumer protection laws. LM is ordered to close the deal, it may still take several months of additional litigation to close the debt financing, which is due to expire in April 2023. As such, the social media giant has asked the judge to reject Musk’s request to hold the trial in February. Musk has accused Twitter of rushing the trial to obscure the reality of its issues with spam accounts. He claims the company is trying to “railroad” him into the deal. LM 6 WWW.LAWYER-MONTHLY.COM | AUG 2022

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