Business

Reuters reports: Twitter Inc’s lawsuit to hold Elon Musk to his $44 billion takeover will go to trial in October after a Delaware judge said on Tuesday the social media company deserved a quick resolution of the deal’s uncertainty. The ruling is a blow to Musk who pushed for a trial in February which his lawyer told the court would …

The Wall Street Journal reports: Amazon said it filed a lawsuit against the administrators of what it says are more than 10,000 Facebook groups used to coordinate fake reviews of Amazon products. Those in charge of the Facebook groups solicit the reviews for items ranging from camera tripods to car stereos in exchange for free products or money, Amazon said …

The Associated Press reports: A former Southwest Airlines flight attendant who was fired after sparring with her union president over abortion and other issues won a $5.1 million jury verdict against the airline and the union. If it stands, Charlene Carter could collect $4.15 million from Southwest and $950,000 from Local 556 of the Transport Workers Union, mostly in punitive …

Bloomberg News reports: Elon Musk’s lawyers say Twitter Inc. officials are unfairly pushing for a “warp speed” trial over claims the billionaire improperly canceled his proposed $44 billion buyout of the social media company, and asked that the case be heard next year instead. Musk is requesting a Feb. 13, 2023, trial at the earliest, “an extremely rapid schedule for …

The New York Daily News reports: State regulators approved rules Thursday governing New York’s soon-to-begin retail cannabis sales, ensuring the first batch of licenses will go to business owners with past pot convictions. Under the state’s Seeding Opportunity Initiative, between 100 and 200 dispensary licenses could be issued by this fall, with sales allowed before the end of the year. …

The Insider reports: In a lawsuit filed Tuesday, Twitter cited posts made by billionaire Elon Musk — including one of a single poop emoji — as evidence he had disparaged the company in violation of contracts he was beholden to when he agreed to buy it for $44 billion. When Musk sent the poop emoji on May 16, the single-character …

Reuters reports: U.S. crypto lender Celsius Network said on Wednesday it had filed for bankruptcy in New York, becoming the latest victim in the cryptocurrency sector of a dramatic plunge in token prices. New Jersey-based Celsius froze withdrawals last month, citing “extreme” market conditions, cutting off access to savings for individual investors and sending tremors through the crypto market. In …

Reuters reports: Netflix Inc said on Wednesday it has selected Microsoft Corp as technology and sales partner for its planned ad-supported subscription offering, as the streaming giant looks to plug slowing subscriber growth by rolling out a cheaper plan. Netflix said in April that it would introduce a new, lower-priced version of its service in a bid to attract more …

The Insider reports: Twitter says it handed over massive amounts of user data to Elon Musk over the last several months, even as it grew concerned that he could use it to his own ends. In a lawsuit filed Tuesday against Musk over his attempt to walk away from his $44 billion deal to buy the platform, Twitter said the …

NPR reports: Twitter has sued Elon Musk to compel him to buy the social media company for $44 billion – a deal the world’s richest person said last week he was calling off. The lawsuit, filed in Delaware’s Court of Chancery on Tuesday, accuses Musk of hypocrisy and bad faith in his dealings with Twitter. It sets Twitter and Musk …

CNN Business reports: Elon Musk mocked Twitter’s efforts to force him to purchase the company — in a tweet, of course. Early Monday, Musk tweeted four images of him laughing next to captions that read: “They said I couldn’t buy Twitter. Then they wouldn’t disclose bot information. Now they want to force me to buy Twitter in court. Now they …

Bloomberg News reports: Twitter Inc. has hired merger law heavyweight Wachtell, Lipton, Rosen & Katz as it races to sue Elon Musk for moving to dump his $44 billion takeover of the company, according to people familiar with the matter. The social media company aims to file suit early this week, according to the people, who declined to be identified …

The Guardian reports: Elon Musk reportedly talked about the colonization of Mars and boosting Earth’s birthrates during his keynote address at Allen & Co’s Sun Valley conference on Saturday, but he avoided discussing his attempt to withdraw from his $44bn bid to buy Twitter. The billionaire accused the social media firm of failing to provide information on bot accounts, among …

The Verge reports: Twitter still hopes to close the deal, despite Musk’s attempted termination. Twitter board chairman Bret Taylor wrote that the company will “pursue legal action to enforce the merger agreement” and feels “confident we will prevail” in court. It’s incumbent that Musk prove that Twitter has breached their agreement, as he can’t just pull out the signed agreement …

Reuters reports: Chief Executive Officer Elon Musk said on Friday he was terminating his $44 billion deal for Twitter Inc (TWTR.N), citing material breach of multiple provisions of the agreement. Shares of Twitter fell 6% in extended trading. The announcement brings to an end a will-he-won’t-he saga after the world’s richest person clinched a deal for Twitter in April but …

Bloomberg News reports: Elon Musk told the father of a teenager who died in a Tesla Model S crash that the carmaker made a mistake in removing a speed limiter from the vehicle without the father’s permission, a lawyer for the family said in court. Curtis Miner, the attorney, told a jury Thursday that the billionaire chief executive officer of …

The Washington Post reports: Elon Musk’s deal to buy Twitter is in serious jeopardy, three people familiar with the matter say, as Musk’s camp concluded that Twitter’s figures on spam accounts are not verifiable. Musk’s team has stopped engaging in certain discussions around funding for the $44 billion deal, including with a party named as a likely backer, one of …

The Sioux City Journal reports: Smithfield Foods will pay restaurants and caterers $42 million to settle a lawsuit that accused the giant meat producer of conspiring to inflate pork prices, which will likely only add to concerns about how the lack of competition in the industry affects meat prices. Lawyers began notifying companies affected by this latest settlement Tuesday. Previously, …

Futurism reports: What happens in VR in Vegas, amirite? Forget strap-ons — a porn outfit called VR Bangers is helping customers strap into a brand new porn experience in Sin City. For the curious and/or terminally lonely, the adult entertainment outfit says it’s delivering smut-enabled VR headsets via delivery robots. Although the city’s notorious getaways often offer adult movies for …

The New York Times reports: A listeria outbreak blamed for the death of one person and the hospitalization of 22 people across 10 states has been linked to ice cream made in Florida, the federal authorities said on Saturday. Big Olaf Creamery, a family-owned company in Sarasota, Fla., exclusively sells ice cream in Florida, the federal Centers for Disease Control …