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Elon Musk under federal investigation, says Twitter in court filing by Reuters

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© Reuters. FILE PHOTO: Tesla founder Elon Musk attends Offshore Northern Seas 2022 in Stavanger, Norway on August 29, 2022. NTB/Carina Johansen via REUTERS/File Photo

Written by Tom Hales and Sheila Dang

WILmington, Dell (Reuters) – Elon Musk is under investigation by federal authorities over his conduct in a $44 billion acquisition of a company Twitter Inc (NYSE :), the social media company said in a court filing released Thursday.

While the file said it was under investigation, it did not say what the exact focus of the investigations and what federal authorities are conducting.

Twitter, which sued Musk in July to force him to terminate the deal, said lawyers at Tesla’s (NASDAQ:) CEO claimed “the privilege to investigate” when they refused to hand over the documents they requested.

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In late September, Musk’s lawyers filed a “record of privileges” to determine which documents should be withheld, Twitter said. The registry noted drafts of a May 13 email to the US Securities and Exchange Commission (SEC) and a slide presentation to the Federal Trade Commission (FTC).

“This ‘hide the ball’ game must end,” the company said in the court filing.

The court filing, which asked Delaware District Judge Catalyn McCormick (NYSE:) to order Musk’s lawyers to file the documents, was filed on October 6 — the same day McCormick halted litigation between the two sides after Musk reversed course and said he would move forward. with the deal.

Alex Spiro, Musk’s attorney, told Reuters the court filing on Twitter was a “misdirection” and asserted: “It’s the Twitter executives who are the subject of a federal investigation.”

Twitter declined to comment on Spiro’s statement. She also declined to comment when asked by Reuters about her understanding of any investigation into Musk.

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The Securities and Exchange Commission did not immediately respond to a request for comment and the Federal Trade Commission declined to comment.

The Securities and Exchange Commission has questioned Musk’s comments about the Twitter acquisition, including whether the 9% stake he built before announcing his offer was recently disclosed and why it indicated he intended to be a passive shareholder. Musk later re-disclosed to indicate that he is an active investor.

In June, the Securities and Exchange Commission asked Musk in a letter whether he should amend his public filing to reflect his intent to suspend or abandon the deal.

The Information, a tech news site, reported in April that the Federal Trade Commission was looking into whether Musk had failed to comply with antitrust reporting requirements relating to an investor’s intentions to be a passive or active shareholder.

However, Twitter said in June that the acquisition deal with Musk had cleared an antitrust waiting period for review by the Federal Trade Commission and the US Department of Justice.

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McCormick gave Musk until Oct. 28 to close the acquisition. If the deal is not implemented by then, a trial date will be set in November.

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Taco Bell has an answer for Chipotle’s most beloved menu item

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Chipotle (CMG) – Get a free report It quietly grabbed the number one spot among Mexican fast food chains using a completely different recipe (so to speak) than its main competitor Yum Brands. (Yum) – Get a free report Taco Bell. Basically, the newer player in the quick service/fast food/quick casual space has decided that prices aren’t going to be a driving factor for it. Instead, Chipotle has built its menu around the idea of ​​using more natural food than well-sourced food.

This was a successful plan until the company was created. The Coli scandal dates back in 2016 as this type of chain fell victim to its own marketing. Fresh foods come with higher risks, and when people get sick at Chipotle, a lot of other fast food chains point to less fresh, processed foods as a safe option.



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Ben & Jerry’s does not have authority to sue over sale of Israeli ice cream By Reuters

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© Reuters. FILE PHOTO: Ben & Jerry’s, a brand of Unilever, is displayed in a store in Manhattan, New York City, US, March 24, 2022. REUTERS/Andrew Kelly

Written by Jessica DiNapoli and Jonathan Stempel

NEW YORK (Reuters) – Unilever (NYSE: plc) has asked a U.S. judge to dismiss a Ben & Jerry’s lawsuit over the sale of the Israeli ice cream maker, saying the subsidiary’s “insistence on taking sides” in the conflict Palestinian Israeli gives its board of directors no authority to stop or even sue the sale.

In a statement Friday afternoon in Manhattan federal court, Unilever said the Ben & Jerry’s board “is no ordinary board.”

In the filings, she said the board has some responsibility to maintain its “social mission” and protect the brand under a shareholder agreement from 2000, when Unilever’s bought Ben & Jerry’s. But Unilever said the board could not sue.

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Unilever also said that the board’s “recent insistence on taking sides in the Israeli-Palestinian conflict has created an intolerable situation” for both sides.

Ben & Jerry’s could not immediately be reached for comment.

The maker of Cherry Garcia and Chubby Hubby ice creams sued Unilever in July to prevent the sale of its businesses in Israel and the occupied West Bank to local licensee Avi Zenger.

Ben & Jerry’s products have been on sale in Israel for more than three decades, but the company said last year that West Bank sales were not in line with its values.

In August, a judge denied Ben & Jerry’s bid to stop those sales outright.

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Last month, Ben & Jerry’s board of directors gave up selling Zinger ice cream, saying its products were “not to be confused with products” made by Ben & Jerry’s.

“Selling products bearing the Ben & Jerry’s insignia in the Occupied Palestinian Territories is contrary to our values,” the council said.

In its motion to dismiss the lawsuit, Unilever also said that Ben & Jerry’s had waited too long to claim that its trademark rights were “taken away” more than 20 years ago, and that the accusations behind the claim are a public matter.

(This story has been reworded to fix a typo in paragraph 1)

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Twitter users are running Musk Over Kanye West

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Even Elon Musk has his limits.

Musk, Tesla (TSLA) – Get a free report The CEO, Twitter’s latest owner and self-described free-spirited free-lancer, has confirmed the microblogging site to be “an actual town square” ever since he walked through the front door with sink in hand.

“It’s mad!” The richest man in the world chirp On November 25 “I’m just fighting for free speech in America.”

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In his quest, Musk recently Welcome back Donald Trump, ending a 22-month ban on the former Republican president.



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