Home » Twitter Investors Say Board Prioritized Incumbency Over Co.
Goldman Sachs – Twitter Investors Say Board Prioritized Incumbency Over Co.
Law360 (January 22, 2021, 5:40 PM EST) — Twitter’s CEO and board of directors used the company’s money to make an unreasonable investment agreement with financial terms well below market value in an effort to buy protection for their incumbency on the board, according to a derivative investor suit filed Thursday in Delaware Chancery Court.
When Twitter board members were in danger of losing their seats, they made hasty agreements with an investment firm and a private equity firm that weren’t good for Twitter and its investors but that made sure they kept their seats, according to the heavily redacted complaint filed by the Orlando Police Pension Fund….
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