Chance The Lawyer ⚡︎Dec 17, 2022

Welp, I suppose it was inevitable!

The first 2.0 suit was filed today in Delaware Court of Chancery—

it was filed under seal against Twitter by John Barnett formerly of Chroma Labs. The complaint will be made public in five business days.

The suit if for declaratory relief and specific performance of a restricted stock agreement, which imma assume was not paid as promised in the merger agreement, RSA, and proxy.

#Twitter #Musk #DelawareCourts #CourtofChancery #CorporateLaw #LawFedi

Show threadNick 'The Viking'Dec 17, 2022

@chancerydaily

This is nearly 2 years ago?

Can this be explained in plain terms?

Show threadChance The Lawyer ⚡︎
@nlarson830 many acquisitions over the years were made in exchange for restricted stock agreements with the founders. all those restricted stock units were -- by and large -- supposed to be accelerated and redeemable for merger consideration at the time of the merger. Elon has not honored many of those obligations.
Dec 17, 2022 at 5:50amWeb
Show threadNick 'The Viking'Dec 17, 2022

@chancerydaily

So he's not paid another slate of bills....