Greenlight, which is run by David Einhorn, buys shares in Twitter.

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The term “hedge fund” is used in this context. TweetDeck sued to compel Elon Musk to purchase the firm, and Greenlight Capital said it bought fresh shares last month. As the billionaire entrepreneur said he had changed his mind about the acquisition. David Einhorn, the founder of Greenlight Capital. Informed investors in a letter seen by Reuters on Monday that his hedge fund had purchased shares of the company for an average price of $37.24.

“Investors stand to gain $17 per share if the case in favour of TWTR is decided in their favour in court. But investors stand to lose $17 per share if the merger is not completed. “To put it another way. We’re only getting even money chances on something that 95% of the time should happen “e moment,” the letter stated.

After predicting for years that Tesla’s stock would fall. David Einhorn’s firm gained 8.4 per cent in the second quarter, while the S&P500 index fell by 16 per cent. On Twitter, the two men have engaged in a number of tense exchanges.

Twitter sued Musk in Chancery Court in Delaware

Twitter sued Musk in Chancery Court in Delaware in July to force him to complete the $44 billion acquisition because the deal “no longer serves his personal interests,” and now Einhorn is coming for a second round with the billionaire.

Using the Delaware Court. David Einhorn says that the country’s most prestigious corporate court should force Musk to finish the deal. “Many future customers’ remorse litigation” will be encouraged if Musk is allowed to avoid responsibility. According to Einhorn, the court has established precedent and a clear knowledge of the contractual obligations of buyers as a result of the development of merger agreement case law over time.

The accepted fact “appears to be that Elon Musk is beyond the law,” according to Einhorn. Who claimed to have made the statement in jest a few years ago? The Delaware Court will make its decision in a few months.

Einhorn said that he liked the “risk-reward” that precedent will be upheld and that a five-day trial is slated for October.

He declined to discuss Tesla in his letter, which he hasn’t done since 2019.

More generally, David Einhorn, whose comments on the economy and the market have long been closely watched. Stated that the company is accumulating capital for potential investments and that “we continue to feel we are in a bear market.”

Greenlight increased 13.2% during the first half of the year while the S&P500 index fell by 20%. The letter stated, “We achieved our favourable year-to-date performance despite being net long in the bear market,” highlighting that covert bets on particular equities did well.

As the firm profited from German and European defence spending. Greenlight liquidated a long position in Rheinmetall after a 125 per cent gain over a few months and closed off a short position against C.H. Robinson Worldwide after a slight loss.

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