(11 Jul 2022) FOR CLEAN VERSION SEE STORY NUMBER: 4388115 ASSOCIATED PRESS ARCHIVE: New York 2 May 2022 1. Elon Musk posing for photographers with his mother, Maye Musk, at Met Gala in New York HEADLINE: What happens next in the Musk-Twitter saga? ASSOCIATED PRESS ARCHIVE: San Francisco 13 May 2020 2. Various, exteriors of Twitter headquarters ANNOTATION:  Elon Musk and Twitter are bracing for a legal fight after the billionaire said he was abandoning his $44 billion bid for the social media company. ASSOCIATED PRESS ARCHIVE: New York 2 May 2022 3. Elon Musk posing for photographers with his mother, Maye Musk, at Met Gala in New York ANNOTATION: Musk alleges that Twitter has failed to provide enough information about the number of fake accounts it has. ASSOCIATED PRESS Westfield, New Jersey - 11 July 2022 4. SOUNDBITE (English) Dan Ives, Wedbush Securities, Senior Equity Analyst: "Look, for Twitter this is a nightmare scenario. And now the stocks going to be under pressure with the Musk deal done because this is going to be a clear headwind going forward. Employee turnover, advertiser issues and really credibility, i think it's going to viewed at least in the near term, damaged goods from a public market perspective." ++WHITE FLASH++ 5. SOUNDBITE (English) Dan Ives, Wedbush Securities, Senior Equity Analyst: ++SOUNDBITE PARTIALLY COVERED BY VIDEO++ "Airing dirty laundry in public in the courts in Delaware. I mean, that's really going to be, I think, for all the world to see. Now, if it's 5% or less, which Twitter's claimed, then ultimately they're proven right. Musk likely has to pay some punitive damages, including the breakup fee. And Twitter really ultimately wins in that situation. Problem is, is that if this starts to ultimately cascade and the Twitter bot issue is much bigger and that comes out in court, I think that really calls into question a lot of issues about the business model, monetization and others. And that's why from a Twitter board perspective, back's against the wall. And the last thing they ever wanted to be was in a court proceeding with the richest person in the world." ASSOCIATED PRESS ARCHIVE: New York 2 May 2022 6. Elon Musk posing for photographers at Met Gala in New York ASSOCIATED PRESS ARCHIVE: San Francisco 13 May 2020 7. Various, exteriors of Twitter headquarters ASSOCIATED PRESS Westfield, New Jersey - 11 July 2022 8. SOUNDBITE (English) Dan Ives, Wedbush Securities, Senior Equity Analyst: ++SOUNDBITE COVERED BY VIDEO++ "Well Twitter legally could force the sale to go through. I think if you look at historically likely it ends in some sort of settlement. But but no doubt I mean, Twitter's going to sharpen the knives going in." STORYLINE: Elon Musk and Twitter are bracing for a legal fight after the billionaire said he was abandoning his $44 billion bid for the social media company. Shares of Twitter slid more than 6% Monday at the opening. Musk alleged Friday that Twitter has failed to provide enough information about the number of fake accounts it has. However, Twitter said last month that it was making available to Musk a "fire hose" of raw data on hundreds of millions of daily tweets when he raised the issue again after announcing that he would buy the social media platform. Twitter has said for years in regulatory filings that it believes about 5% of the accounts on the platform are fake but on Monday Musk continued to taunt the company, using Twitter, over what he has described as a lack of data. =========================================================== Clients are reminded: Subscribe for more Breaking News: http://smarturl.it/AssociatedPress Website: https://apnews.com Twitter: https://twitter.com/AP Facebook: https://facebook.com/APNews Instagram: https://www.instagram.com/APNews/ You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/c4c0571819c4432bb9736c969a3f3fef