Breaking News
Investing Pro 0
🙌 It's Here: the Only Stock Screener You'll Ever Need Get Started

Twitter not paying PR firm's bills after Musk buyout -lawsuit

Published May 26, 2023 02:14PM ET Updated May 26, 2023 04:51PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: Elon Musk's photo is seen through a Twitter logo in this illustration taken October 28, 2022. REUTERS/Dado Ruvic/Illustration
 
TSLA
+3.11%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

By Jonathan Stempel

(Reuters) - A former public relations firm for Twitter sued the social media company on Friday, saying it has not paid its bills since Elon Musk's $44 billion buyout.

Joele Frank said Twitter owes $830,498, comprising six unpaid invoices, plus costs for a subpoena in Twitter's lawsuit to force Musk to complete the buyout after he tried to back out.

The public relations firm said Twitter ended its contract on Nov. 16, three weeks after the buyout closed, and no longer communicates about its payment demand beyond an automated pledge to "get started processing it right away."

Twitter, also known as X Corp, no longer has a media relations office. It responded to a request for comment on the lawsuit with a poop emoji. A lawyer for Musk copied on that request did not immediately respond to it.

Joele Frank began working for Twitter in January 2015, according to its complaint in a New York state court in Manhattan.

Many landlords, vendors and consultants have sued Twitter over unpaid bills that Musk inherited when he bought the company, before he implemented deep cost cuts.

Twitter is also being sued in Delaware by three former executives including Parag Agrawal, who Musk ousted as CEO, who say it reneged on obligations to reimburse more than $1 million of legal fees.

Musk has said Twitter could generate positive cash flow as soon as this quarter, despite a decline in advertising revenue.

The world's second-richest person, who also runs electric car company Tesla (NASDAQ:TSLA) Inc, has estimated that Twitter has lost more than half its value since he bought it, according to published reports.

The case is JF Associates LLC v X Corp, New York State Supreme Court, New York County.

Twitter not paying PR firm's bills after Musk buyout -lawsuit
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.
  • Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (3)
Den Denilson
Den Denilson May 29, 2023 8:01AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Maybe their services sux, ans since he did not contracted them, he want reward them any payments... Courts
Carl Tom
Carl Tom May 27, 2023 7:04PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Rigged
First Last
First Last May 26, 2023 6:47PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Mush not paying his bills ... how very Trumpian.
First Last
First Last May 26, 2023 6:47PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
* Musk
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email